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

Question 2 Chapter 9 of +2-A

Question 2 Chapter 9 of +2-A

2. An Ltd. issued 2,000; 9% Debentures of ₹ 100 each on the following terms:₹20 on applications;₹ 20 on allotment; ₹ 30 on the first call; ₹ 30 on final call.
The public applied for 2,400 debentures. Applications for 1,800 debentures were accepted in full. Applications for 400 debentures were allotted 200 debentures and applications for 200 debentures were rejected. Pass necessary Journal entries.

The solution of Question 2 Chapter 9 of +2-A: – 

     
DateParticulars
L.F.DebitCredit
  Bank A/cDr 48,000 
 To 9%Debenture application A/c   48,000
 (Being the application money received )    
  9% Debenture application A/cDr 48,000 
 To 9% Debenture A/c   40,000
 To 9% Debenture allotment/c   4,000
 To Bank A/c   4,000
 (Being application money transferred to equity share capital )    
  9%Debenture allotment A/cDr 40,000 
 To 9%Debebture A/c   40,000
 (Being the first call money due )    
 Bank A/cDr 36,000 
 To 9% Debenture Allotment A/c   36,000
 (Being allotment money received  )    
 9%Debenture First call A/cDr 60,000 
 To 9% Debenture A/c   60,000
 (Being share forfeited )    
 Bank A/cDr 60,000 
 To 9%Debenture first, call A/c   60,000
 (Being first call money received )    
 9%Debenture Final call A/cDr 60,000 
 To 9% Debenture A/c   60,000
 (Being the final call money due )    
 Bank A/cDr 60,000 
 To 9%Debenture Final call A/c   60,000
 (Being final call money received )    

 


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

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