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Question 1 Chapter 9 of +2-Part-1
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1. (Issue at Par) X Ltd. issued 1,000, 5% Debentures of Rs. 100 each at par, payable Rs. 20 on application, Rs. 20 on allotment, Rs. 30 on first call and 30 on second call. All the amounts were duly received. Pass necessary journal entries.
The solution of Question 1 Chapter 9 of +2 Part-1: –
| Journal |
|||||
| Date | Particulars |
L.F. | Debit | Credit | |
| A) | Bank A/c (1,000X 20) | Dr. | 20,000 | ||
| To Debenture Application A/c | 20,000 | ||||
| (Being the receipt of app. Amount @ Rs. 20 on 1,000 debentures ) | |||||
| B) | Debenture Application A/c | Dr. | 20,000 | ||
| To 5% Debenture A/c | 20,000 | ||||
| (Being transfer of app. Money debenture A/c) | |||||
| C) | Debenture Allotment A/c (1,000 X 20) | Dr. | 20,000 | ||
| To 5% Debenture A/c | 20,000 | ||||
| (Being allotment money due ) | |||||
| D) | Bank A/c | Dr. | 20,000 | ||
| To Debenture Allotment A/c | 20,000 | ||||
| (Being allotment money received ) | |||||
| E) | Debenture First Call A/c (1,000 X 30) | Dr. | 30,000 | ||
| To 5% Debenture A/c | 30,000 | ||||
| (Being first call money due ) | |||||
| F) | Bank A/c | Dr. | 30,000 | ||
| To Debenture first call A/c | 30,000 | ||||
| (Being first call money received ) | |||||
| G) | Debenture Second & Final Call A/c (1,000 X 30) | Dr. | 30,000 | ||
| To 5% Debenture A/c | 30,000 | ||||
| (Being Second & final call money due ) | |||||
| H) | Bank A/c | Dr. | 30,000 | ||
| To Debenture first call A/c | 30,000 | ||||
| (Being Second & final call money received ) | |||||
It all about Question 1 Chapter 9 of +2-Part-1, If you have any problem please comment below.
Issue of Debentures from the point of view of Redemption
End of Solution
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Chapter-Wise Solution of Usha Publication Accountancy – Part 2 Class 12 – Session 2024-25 as per the PSEB curriculum
Check out Solutions to all questions of the every chapter shown as under. The Solution of Accountancy – Part 2 Class 12 – Session 2024-25 is provided as per the new book published by Usha Publication.
Chapter No. 8 – Company Accounts (Share Capital)
Chapter No. 9 – Company Accounts (Issue of Debentures)
Chapter No. 10 – Company Accounts (Redemption of Debentures)
Chapter No. 11 – Financial Statements of a Company
Chapter No. 12 – Financial Statement Analysis
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Chapter No. 13 – Tools of Financial Statement Analysis- Comparative and Common Size
Chapter No. 14 – Accounting Ratios
Chapter No. 15 – Cash Flow Statement
Also, Check out our Comprehensive Chapter-wise solution of Advanced Accountancy Part 2 Class 12 by Unimax Publication
- Chapter No. 1 – Company Accounts (Share Capital)
- Chapter No. 2 – Issue of Debentures
- Chapter No. 3 – Redemption of Debentures
- Chapter No. 4 – Financial Statements of a Company (Balance Sheet Only)
- Chapter No. 5 -Financial Statement Analysis
- Chapter No. 6 – Tools/Methods of Financial Analysis
- Chapter No. 7 – Ratio Analysis
- Chapter No. 8 – Cash Flow Statement
Check out Part 1 of both books.
In Class 12th the accountancy has 2 books i.e. Part 1 and Part 2. The Books related to the Part 1 are shown above. but If you want to know more about Part 1, you can check it out from the following links. We have provided the links to both books i.e. Accountancy Part 1 by Usha Publication and Advanced Accountancy Part 2 by Unimax Publication.
1. Accountancy – Part 1 Class 12 – Session 2024-25 By Usha Publication
2. Advanced Accountancy Part 1 Class 12 by Unimax Publication
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