Advertisement

Question 14 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 14 Chapter 9 of +2-Part-1 - USHA Publication 12 Class Part - 1
Question 14 Chapter 9 of +2-Part-1 - USHA Publication 12 Class Part - 1

Advertisement

Question 14 Chapter 9 of +2-Part-1

Advertisement

14. (Calls in arrear) A Ltd. issued 1,50,000, 15% Debentures of Rs. 100 each, Rs. 40 was with application, 40 with the allotment and balance with the first and final call debentures were applied. All the amount was received except first and final call on 5,000debentures. Pass necessary journal entries.

The solution of Question 14 Chapter 9 of +2 Part-1: –

Journal
Date  Particulars
L.F.Debit ₹Credit ₹
 Bank A/cDr. 60,00,000 
 To 15 % Debenture Application A/c   60,00,000
 (Being app. Money received )   
     
 15 % Debenture Application A/cDr. 60,00,000 
 To 15 % Debenture A/c  60,00,000
 (Being 1,50,000 debenture allotted )   
     
 15 % Debenture Allotment A/cDr. 60,00,000 
 To 15% Debenture A/c  60,00,000
 (Being debentures allotment due)   
     
 Bank A/cDr. 30,00,000 
 To 15 % Debenture Allotment A/c   30,00,000
 (Being allotment money received )    
      
 Bank A/cDr. 29,00,000 
 Calls in arrears A/cDr. 1,00,000 
 To Debenture call A/c   30,00,000
 (Being call money received )    
      

It all about Question 14 Chapter 9 of +2-Part-1, If you have any problem please comment below.

Issue of Debentures from the point of view of Redemption

Advertisement-X

You can also Check out the solved question of other Chapters: –

Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution

Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution

Advertisement

Advertisement

error: Content is protected !!