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Question 11 Chapter 9 of +2-A – T.S. Grewal 12 Class

Question 11 Chapter 9 of +2-A
Question No11 - Chapter No.9 - T.S. Grewal +2 Book 2019-Solution

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Question 11 Chapter 9 of +2-A

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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: – 

     
DateParticulars
L.F.DebitCredit
  Bank A/cDr 25,00,000 
 To Debenture application A/c   25,00,000
 (Being the application money received )    
  Debenture application A/cDr 25,00,000 
 To 10% Debenture A/c   25,00,000
 (Being application money transferred to equity share capital )    
  10%Debenture allotment A/cDr 20,00,000 
 Discount on issue of Debenture A/cDr 5,00,000 
 Loss on  issue of Debenture A/cDr 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/cDr 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)

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

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

Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication

+2 Book 2-min

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