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: – 

         
Date Particulars
L.F. Debit Credit
   Bank A/c Dr   48,000  
  To 9%Debenture application A/c       48,000
  (Being the application money received )        
   9% Debenture application A/c Dr   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/c Dr   40,000  
  To 9%Debebture A/c       40,000
  (Being the first call money due )        
  Bank A/c Dr   36,000  
  To 9% Debenture Allotment A/c       36,000
  (Being allotment money received  )        
  9%Debenture First call A/c Dr   60,000  
  To 9% Debenture A/c       60,000
  (Being share forfeited )        
  Bank A/c Dr   60,000  
  To 9%Debenture first, call A/c       60,000
  (Being first call money received )        
  9%Debenture Final call A/c Dr   60,000  
  To 9% Debenture A/c       60,000
  (Being the final call money due )        
  Bank A/c Dr   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)

  • Chapter No. 1 – Financial Statement of Not-For-Profit Organisations
  • Chapter No. 2 – Accounting for Partnership Firms – Fundamentals
  • Chapter No. 3 – Goodwill: Nature and Valuation
  • Chapter No. 4 – Change in Profit-Sharing Ratio Among the Existing Partners
  • Chapter No. 5 – Admission of a Partner
  • Chapter No. 6 – Retirement/Death of a Partner
  • Chapter No. 7 – Dissolution of a Partnership Firm

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)

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

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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