Question 15 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 15 Chapter 9 of +2-Part-1

15. (Calls in arrear) A company issued 1,000, 6 % Debentures of Rs. 100 each at 110 payable as follows:

₹ 30	on application (including premium of 5)
₹ 30	on allotment (including premium of 5)
₹ 50	on first and final call

All the debentures were applied for and allotted.
All money due was received except final call on 20 debentures
Pass journal entries for the above.

The solution of Question 15 Chapter 9 of +2 Part-1: –

Journal
Date	Particulars		L.F.	Debit ₹	Credit ₹
	Bank A/c	Dr.		30,000
	To Debenture Application A/c				30,000
	(Being app. Money Received )
	Debenture Application A/c	Dr.		30,000
	To 6% Debenture A/c				25,000
	To Securities Premium Reserve A/c				5,000
	(Being application money transferred to debenture A/c , together with premium @ Rs. 5 )
	Bank A/c	Dr.		30,000
	To 6 % Debenture Allotment A/c				30,000
	(Being allotment money received )
	Debenture fist & Final Call A/c	Dr.		50,000
	To 6% Debenture A/c				50,000
	(Being amount due on final )
	Bank A/c	Dr.		49,000
	To Debenture First & final call A/c				49,000
	(Being call money received on 980 Debentures )

It all about Question 15 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

• Chapter No. 1 – Accounting Not for Profit Organisations
• Chapter No. 2 – Partnership Accounts – I (Introduction)
• Chapter No. 3 – Partnership Accounts – II (Goodwill: Nature and Valuation)
• Chapter No. 4 – Partnership Accounts – III (Reconstitution of Partnership)
• Chapter No. 5 – Partnership Accounts – IV (Admission of A Partner)
• Chapter No. 6 – Partnership Accounts – V (Retirement and Death of A Partner)
• Chapter No. 7 – Partnership Accounts – VI (Dissolution of Partnership Firm)
• Chapter No. 8 – Company Accounts (Share Capital)
• Chapter No. 9 – Company Accounts (Issue of Debentures)
• Chapter No. 10 – Company Accounts (Redemption of Debentures)

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

• Chapter No. 1 – Financial Statements of a Company
• Chapter No. 2 – Financial Statement Analysis
• Chapter No. 3 –  Tools of Financial Statement Analysis- Comparative and Common Size
• Chapter No. 4 – Ratio Analysis
• Chapter No. 5 – Cash Flow Statement