# Question 10 Chapter 9 of +2-A – T.S. Grewal 12 Class

Question No10 - Chapter No.9 - T.S. Grewal +2 Book 2019-SolutionQuestion No10 - Chapter No.9 - T.S. Grewal +2 Book 2019-Solution

Question 10 Chapter 9 of +2-A

10. X Ltd. issued 12,000; 8% Debentures of ​₹  100 each at a discount of 5% payable as 25% on the application;20% on allotment and balance after three months.
Pass Journal entries.

### The solution of Question 10 Chapter 9 of +2-A: –

 Date Particulars L.F. Debit Credit Bank A/c Dr 3,00,000 To 8%Debenture application A/c 3,00,000 (Being the application money received ) 8% Debenture application A/c Dr 3,00,000 To 9% Debenture A/c 3,00,000 (Being application money transferred to equity share capital ) 8%Debenture allotment A/c Dr 2,40,000 Discount on issue of Debenture A/c Dr 60,000 To 9%Debebture A/c 3,00,000 (Being the allotment money due with security premium ) Bank A/c Dr 2,40,000 To 8% Debenture Allotment A/c 2,40,000 (Being application money transferred to equity share capital ) 8%Debenture First and final call A/c Dr 6,00,000 To 8% Debenture A/c 6,00,000 (Being the first and final call money due ) Bank A/c Dr 6,00,000 To 8%Debenture first and final call A/c 6,00,000 (Being first and final call money received )

Working Notes :

Face Value of Debenture = Rs 100
Discount (Rs 100 × 5%) = Rs 5
∴ Issue Price = Rs 95

Amount Payable as:

 On Application (25%) Rs 25 per debenture On Allotment (20%) Rs 20 (25 – 5) per debenture On First and Final Call (50%) Rs 50 per debenture

Comment if you have any question.

Also, Check out the solved question of previous Chapters: –