Advertisement
Question 29 Chapter 9 of +2-Part-1
Advertisement
Table of Contents
29. (Various Cases of Redemption) Journalise the following transactions: The face value of debenture is Rs. 1,000.
40 debentures issued at Rs. 950 each, repayable at Rs. 1,000 each.
(ii) 40 debentures issued at RS. 950 each, repayable at Rs. 1,050 each.
(iii) 40 debentures issued at Rs. 1000 each, repayable at Rs. 1,050 each.
(iv) 40 debentures issued at Rs. 1,050 each, repayable at Rs. 1,000 each.
The solution of Question 29 Chapter 9 of +2 Part-1: –
| Journal |
|||||
| Date | Particulars |
L.F. | Debit ₹ | Credit ₹ | |
| i | Bank A/c (40 X950) | Dr. | 38,000 | ||
| To Debenture Application & allotment A/c | 38,000 | ||||
| (Being app. Money received) | |||||
| ii | Debenture Application & Allotment A/c (40 X950) | Dr. | 38,000 | ||
| Discount on issue of Debentures A/c(40 X50) | Dr. | 2,000 | |||
| To Debenture A/c | 40,000 | ||||
| (Being issue of 40 debentures at a discount of ₹ 50 per debenture) | |||||
| iii | Bank A/c (40 X ₹ 950) | Dr. | 38,000 | ||
| To Debenture Application & Allotment A/c | 38,000 | ||||
| (Being Application Money received) | |||||
| iv | Debenture Application & Allotment A/c | Dr. | 38,000 | ||
| Loss on issue of Debentures A/c | Dr. | 4,000 | |||
| To Debenture A/c(40 X1000) | 40,000 | ||||
| To Premium on redemption of debentures A/c (40 X50) | 2,000 | ||||
| (Being issue of debentures at par repayable at premium) | |||||
| v | Bank A/c (40 X 1000) | Dr. | 40,000 | ||
| To Debenture Application & Allotment A/c | 40,000 | ||||
| (Being receipt debentures app. Money) | |||||
| vi | Debenture Application & Allotment A/c | Dr. | 40,000 | ||
| Loss on issue of Debentures A/c | 2,000 | ||||
| To Debenture A/c (40 X1000) | 40,000 | ||||
| To Premium on redemption of debentures A/c(40 X50) | 2,000 | ||||
| (Being issue of debentures at discount repayable at premium ) | |||||
| vii | Bank A/c (40 X 1050) | Dr. | 42,000 | ||
| To Debenture Application & Allotment A/c | 42,000 | ||||
| (Being Application Money received) | |||||
| viii | Debenture Application & Allotment A/c | Dr. | 42,000 | ||
| To Debenture A/c (40 X1000) | 40,000 | ||||
| To Securities Premium A/c(40 X 50) | 2,000 | ||||
| (Being issue debentures at redeemable at premium at par) | |||||
It all about Question 29 Chapter 9 of +2-Part-1, If you have any problem please comment below.
Advertisement-X
Advertisement-Y
Issue of Debentures from the point of view of Redemption
You can also Check out the solved question of other Chapters: –
Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution
- Chapter No. 1 – Accounting Not for Profit Organisations
- Chapter No. 2 – Partnership Accounts – I (Introduction)
- Chapter No. 3 – Partnership Accounts – II (Goodwill: Nature and Valuation)
- Chapter No. 4 – Partnership Accounts – III (Reconstitution of Partnership)
- Chapter No. 5 – Partnership Accounts – IV (Admission of A Partner)
- Chapter No. 6 – Partnership Accounts – V (Retirement and Death of A Partner)
- Chapter No. 7 – Partnership Accounts – VI (Dissolution of Partnership Firm)
- Chapter No. 8 – Company Accounts (Share Capital)
- Chapter No. 9 – Company Accounts (Issue of Debentures)
- Chapter No. 10 – Company Accounts (Redemption of Debentures)
Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution
- Chapter No. 1 – Financial Statements of a Company
- Chapter No. 2 – Financial Statement Analysis
- Chapter No. 3 – Tools of Financial Statement Analysis- Comparative and Common Size
- Chapter No. 4 – Ratio Analysis
- Chapter No. 5 – Cash Flow Statement