Question 3 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Posted by By Kuljeet Singh 4 Min Read July 13, 2024
Question 3 Chapter 9 of +2-Part-1 - USHA Publication 12 Class Part - 1
Question 3 Chapter 9 of +2-Part-1 - USHA Publication 12 Class Part - 1

Question 3 Chapter 9 of +2-Part-1

3. (Issue at Premium) Atlas Ltd. Issue 5,000, 12% Debentures of ₹ 100 each at 10% premium, redeemable at par after 5 years, payable as ₹ 60 an application and the balance on allotment Debentures were fully subscribed and all money was duly received.
Prepare Journal and the Balance Sheet when premium money has been called up (a) on application (b) on the allotment.


The solution to Question 3 Chapter 9 of +2 Part-1: –

Solution of Questions 1 2 3 & 4 Issue of Debentures Chapter 9 Accounts Part B class 12 PSEB Day 193
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(a) When the premium is received on the application

Journal
Date   Particulars
 L.F. Debit Credit
  Bank A/c (5,000X 60) Dr.   3,00,000  
  To 12 % Debenture Application A/c       3,00,000
  (Being app. Money received )      
         
  12 % Debenture Application A/c Dr.   3,00,000  
  To 12% Debenture A/c     2,50,000
  To Securities Premium Reserve A/c     50,000
  (Being 5,000 debenture allotted )      
         
  12 % Debenture Allotment A/c Dr.   2,50,000  
  To 12% Debenture A/c     2,50,000
  (Being 5,000 debentures allotment due @ Rs, 50 )      
         
  Bank A/c Dr.   2,50,000  
  To 12 % Debenture Allotment A/c     2,50,000
  (Being allotment money received )      
         

(b) When the premium is received on the allotment

Journal
Date   Particulars
 L.F. Debit Credit
  Bank A/c (5,000X 60) Dr.   3,00,000  
  To 12 % Debenture allotment A/c       3,00,000
  (Being all. Money received )      
         
  12 % Debenture Application A/c Dr.   2,50,000  
  To 12% Debenture A/c     2,50,000
  (Being 5,000 debenture allotted )      
         
  12 % Debenture Allotment A/c Dr.   3,00,000  
  To 12% Debenture A/c     2,50,000
  To Securities Premium Reserve A/c     50,000
  (Being 5,000 debentures allotment due)      
         
  Bank A/c Dr.   3,00,000  
  To 12 % Debenture Allotment A/c     3,00,000
  (Being allotment money received )      
         

It is all about Question 3 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

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 1 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

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Question 2 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 3 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 4 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 5 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 6 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 7 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 8 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 12 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 13 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 14 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

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Question 15 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 16 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 17 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 18 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 19 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 20 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 21 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 22 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 23 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 24 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

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Question 25 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 26 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 27 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 28 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 29 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

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Question 30 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 31 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 32 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 33 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

Check out Part 1 of both books.

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1. Accountancy – Part 1 Class 12 – Session 2024-25 By Usha Publication

Accountancy – Part 1 Class 12 – Session 2024-25 – Solution for free

2. Advanced Accountancy Part 1 Class 12 by Unimax Publication

Advanced Accountancy II Part 1 Class 12 – Solution for free

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