Question 27 Chapter 9 of +2-Part-1
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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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
Chapter No. 13 – Tools of Financial Statement Analysis- Comparative and Common Size
Chapter No. 14 – Accounting Ratios
Chapter No. 15 – Cash Flow Statement
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- 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
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1. Accountancy – Part 1 Class 12 – Session 2024-25 By Usha Publication
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