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

Question 2 Chapter 9 of +2-A

Table of Contents

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

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)

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 )