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Question 27 Chapter 9 of +2-Part-1
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27. (Different cases of Issue of Debentures) How will you record the entries relating to issue of debentures in following cases.
(i)Rs. 1,00,000 10% Debentures of Rs. 100 each issued at par redeemable at par.
(ii) Rs. 1,00,000 10% Debentures of Rs. 100 each, issued at par but redeemable at Rs. 110.
(iii) Rs. 1,00,000 10% Debentures of Rs. 100 each, issued at Rs. 95 but redeemable at Rs. 105.
(iv) Rs. 1,00,000 10 % Debentures of Rs. 100 each issued at Rs. 90 but redeemable at par.
(v) Rs. 1,00,000 10% Debentures of Rs. 100 each, issued at Rs. 110 but redeemable at Rs. 100.
The solution of Question 27 Chapter 9 of +2 Part-1: –
| Journal | |||||
| Date | Particulars | L.F. | Debit ₹ | Credit ₹ | |
| i | Bank A/c | Dr. | 1,00,000 | ||
| To Debenture Application & allotment A/c | 1,00,000 | ||||
| (Being subscription Amount received on 1,000 debentures @ ₹100 each ) | |||||
| ii | Debenture Application & Allotment A/c | Dr. | 1,00,000 | ||
| To 10% Debenture A/c | 1,00,000 | ||||
| (Being issue of debentures at par) | |||||
| iii | Bank A/c | Dr. | 1,00,000 | ||
| To Debenture Application & Allotment A/c | 1,00,000 | ||||
| (Being receipt of Rs. 100 per debentures on 1000 debentures) | |||||
| iv | Debenture Application & Allotment A/c | Dr. | 1,00,000 | ||
| Loss on issue of Debentures A/c | Dr. | 10,000 | |||
| To 10% Debenture A/c | 1,00,000 | ||||
| To Premium on redemption of debentures A/c | 10,000 | ||||
| (Being issue of debentures at par redeemable at 10 % premium) | |||||
| v | Bank A/c | Dr. | 95,000 | ||
| To Debenture Application & Allotment A/c | 95,000 | ||||
| (Being receipt of Rs. 95 per debentures on 1000 debentures) | |||||
| vi | Debenture Application & Allotment A/c | Dr. | 90,000 | ||
| Loss on issue of Debentures A/c | Dr. | 10,000 | |||
| To 10% Debenture A/c | 1,00,000 | ||||
| To Premium on Redemption of Debentures A/c | 5,000 | ||||
| (Being issue of debentures at discount repayable at premium) | |||||
| vii | Bank A/c | Dr. | 90,000 | ||
| To Debenture Application & Allotment A/c | 90,000 | ||||
| (Being receipt of Rs. 110 per debentures on 1000 debentures) | |||||
| viii | Debenture Application & Allotment A/c | Dr. | 90,000 | ||
| Loss on issue of Debentures A/c | Dr. | 10,000 | |||
| To 10% Debenture A/c | 1,00,000 | ||||
| (Being issue of 1000 debentures at redeemable at 10 % premium at par) | |||||
| ix | Bank A/c | Dr. | 1,10,000 | ||
| To Debenture Application & Allotment A/c | 1,10,000 | ||||
| (Being subscription amount received) | |||||
| x | Debenture Application & Allotment A/c | Dr. | 1,10,000 | ||
| To 10% Debenture A/c | 1,00,000 | ||||
| To Premium on redemption of debentures A/c | 10,000 | ||||
| (Being issue of debentures at premium redeemable at par) | |||||
It all about Question 27 Chapter 9 of +2-Part-1, If you have any problem please comment below.
Issue of Debentures from the point of view of Redemption
End of Solution
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Check Out the Solution of all questions of this chapter:
The solution to all questions of Chapter No. 9 – Company Accounts (Issue of Debentures) Class 12 Usha Publication – 2024 is shown as follows, click on the image of the question to get the solution.
Question 5 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1
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Question 26 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1
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Chapter-Wise Solution of Usha Publication Accountancy – Part 2 Class 12 – Session 2024-25 as per the PSEB curriculum
Check out Solutions to all questions of the every chapter shown as under. The Solution of Accountancy – Part 2 Class 12 – Session 2024-25 is provided as per the new book published by Usha Publication.
Chapter No. 8 – Company Accounts (Share Capital)
Chapter No. 9 – Company Accounts (Issue of Debentures)
Chapter No. 10 – Company Accounts (Redemption of Debentures)
Chapter No. 11 – Financial Statements of a Company
Chapter No. 12 – Financial Statement Analysis
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Chapter No. 13 – Tools of Financial Statement Analysis- Comparative and Common Size
Chapter No. 14 – Accounting Ratios
Chapter No. 15 – Cash Flow Statement
Also, Check out our Comprehensive Chapter-wise solution of Advanced Accountancy Part 2 Class 12 by Unimax Publication
- Chapter No. 1 – Company Accounts (Share Capital)
- Chapter No. 2 – Issue of Debentures
- Chapter No. 3 – Redemption of Debentures
- Chapter No. 4 – Financial Statements of a Company (Balance Sheet Only)
- Chapter No. 5 -Financial Statement Analysis
- Chapter No. 6 – Tools/Methods of Financial Analysis
- Chapter No. 7 – Ratio Analysis
- Chapter No. 8 – Cash Flow Statement
Check out Part 1 of both books.
In Class 12th the accountancy has 2 books i.e. Part 1 and Part 2. The Books related to the Part 1 are shown above. but If you want to know more about Part 1, you can check it out from the following links. We have provided the links to both books i.e. Accountancy Part 1 by Usha Publication and Advanced Accountancy Part 2 by Unimax Publication.
1. Accountancy – Part 1 Class 12 – Session 2024-25 By Usha Publication
2. Advanced Accountancy Part 1 Class 12 by Unimax Publication
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