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

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/c Dr.   60,00,000  
  To 15 % Debenture Application A/c       60,00,000
  (Being app. Money received )      
         
  15 % Debenture Application A/c Dr.   60,00,000  
  To 15 % Debenture A/c     60,00,000
  (Being 1,50,000 debenture allotted )      
         
  15 % Debenture Allotment A/c Dr.   60,00,000  
  To 15% Debenture A/c     60,00,000
  (Being debentures allotment due)      
         
  Bank A/c Dr.   30,00,000  
  To 15 % Debenture Allotment A/c       30,00,000
  (Being allotment money received )        
           
  Bank A/c Dr.   29,00,000  
  Calls in arrears A/c Dr.   1,00,000  
  To Debenture call A/c       30,00,000
  (Being call money received )        
           

It all about Question 12 Chapter 9 of +2-Part-1, If you have any problem please comment below.

Issue of Debentures from the point of view of Redemption

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

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