Question 1 Chapter 9 of +2-A - T.S. Grewal 12 Class

Question 1 Chapter 9 of +2-A

Table of Contents

The solution of Question 1 Chapter 9 of +2-A: –

T.S. Grewal’s Double Entry Book Keeping +2 (Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms)

T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

1. Vishwas Ltd. issued 2,000; 9% Debentures of ₹ 100 each payable as follows:
₹ 25 on the application; ₹ 25 on the allotment and ₹ 50 on first and final call.
Applications were received for all the debentures along with the application money did allotment was made. Call money was also received on the due date.
Pass necessary Journal entries in the books of the company.

The solution of Question 1 Chapter 9 of +2-A: –


Date	Particulars		L.F.	Debit	Credit
	Bank A/c	Dr		50,000
	To 9%Debenture application A/c				50,000
	(Being the application money received )

	9% Debenture application A/c	Dr		50,000
	To 9% Debenture A/c				50,000
	(Being application money transferred to equity share capital )

	9%Debenture allotment A/c	Dr		50,000
	To 9%Debebture A/c				50,000
	(Being the first call money due )

	Bank A/c	Dr		50,000
	To 9% Debenture Allotment A/c				50,000
	(Being allotment money received )

	9%Debenture First and Final call A/c	Dr		1,00,000
	To 9% Debenture A/c				1,00,000
	(Being share forfeited )

	Bank A/c	Dr		1,00,000
	To 9%Debenture first, call A/c				1,00,000
	(Being first call money received )