Question 31 Chapter 9 of +2-A - T.S. Grewal 12 Class

Question 31 Chapter 9 of +2-A

Table of Contents

The solution of Question 31 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)

31. Grown Ltd. issued 500, 10% Debentures of 􀀀 1,000 each credited as fully paid-up to the promoters for their services to incorporate the company. It also issued 100, 10% Debentures of 􀀀 1,000 each credited as fully paid-up to the underwriters towards their commission. Pass the Journal entries.

The solution of Question 31 Chapter 9 of +2-A: –

Date	Particulars		L.F.	Debit	Credit
	Bank A/c	Dr		5,00,000
	To Bank loan A/c				5,00,000
	(Being a bank loan taken from state bank of india@10%Debenture )

Date	Particulars		L.F.	Debit	Credit
	Bank A/c	Dr		3,00,000
	To Bank loan A/c				3,00,000
	(Being a bank loan taken from state bank of india@10%Debenture )
	Debenture Suspense A/c	Dr		7,50,000
	To 10% Debenture A/c				7,50,000
	(Being debenture issued )