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Question 11 Chapter 9 of +2-A
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Table of Contents
11. 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 11 Chapter 9 of +2-A: –
| Date | Particulars | L.F. | Debit | Credit | |
| Bank A/c | Dr | 25,00,000 | |||
| To Debenture application A/c | 25,00,000 | ||||
| (Being the application money received ) | |||||
| Debenture application A/c | Dr | 25,00,000 | |||
| To 10% Debenture A/c | 25,00,000 | ||||
| (Being application money transferred to equity share capital ) | |||||
| 10%Debenture allotment A/c | Dr | 20,00,000 | |||
| Discount on issue of Debenture A/c | Dr | 5,00,000 | |||
| Loss on issue of Debenture A/c | Dr | 2,50,000 | |||
| To 10%Debebture A/c | 25,00,000 | ||||
| To Premium on Redemption of Debentures A/c | 2,50,000 | ||||
| (Being the allotment money due with security premium ) | |||||
| Bank A/c | Dr | 20,00,000 | |||
| To 10% Debenture Allotment A/c | 20,00,000 | ||||
| (Being application money transferred to equity share capital ) | |||||
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Also, Check out the solved question of previous Chapters: –
T.S. Grewal’s Double Entry Book Keeping +2 (Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms)
- Chapter No. 1 – Financial Statement of Not-For-Profit Organisations
- Chapter No. 2 – Accounting for Partnership Firms – Fundamentals
- Chapter No. 3 – Goodwill: Nature and Valuation
- Chapter No. 4 – Change in Profit-Sharing Ratio Among the Existing Partners
- Chapter No. 5 – Admission of a Partner
- Chapter No. 6 – Retirement/Death of a Partner
- Chapter No. 7 – Dissolution of a Partnership Firm
T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)
- Chapter No. 8 – Company Accounts – Accounting for Share Capital
- Chapter No. 9 – Company Accounts – Issue of Debentures
- Chapter No. 10 – Redemption of Debentures
T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)
- Chapter No. 1 – Financial Statements of a Company
- Chapter No. 2 – Financial Statement Analysis
- Chapter No. 3 – Tools of Financial Statement Analysis – Comparative Statements and Common- Size Statements
- Chapter No. 4 – Accounting Ratios
- Chapter No. 5 – Cash Flow Statement
Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication
