Question 32 Chapter 9 of +2-A - T.S. Grewal 12 Class

Question 32 Chapter 9 of +2-A

Table of Contents

The solution of Question 32 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)

32. Journalise the following:
(a)A debenture issued at Rs 95, repayable at Rs 100.
(b)A debenture issued at Rs 95, repayable at Rs 105.
(c)A debenture issued at Rs 95, repayable at Rs 105.
The face value of debenture is Rs100 in each of the above cases..

The solution of Question 32 Chapter 9 of +2-A: –

Date	Particulars		L.F.	Debit	Credit
	Bank A/c	Dr		95
	To Debenture Application/c				95
	(Being Debenture application Received )
	Debenture application A/c	Dr		90
	Discount on issue of Debenture A/c	Dr		5
	To Debenture Application/c				95
	(Being Debenture application Received )

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Date	Particulars		L.F.	Debit	Credit
	Bank A/c	Dr		95
	To Debenture Application/c				95
	(Being Debenture application Received )
	Debenture application A/c	Dr		95
	Discount on issue of Debenture A/c	Dr		5
	Loss on the issue of Debenture A/c	Dr		5
	To Debenture Application/c				100
	To Premium on Redemption/c				5
	(Being Debenture issued )

Date	Particulars		L.F.	Debit	Credit
	Bank A/c	Dr		95
	To Debenture Application/c				95
	(Being Debenture application Received )
	Debenture application A/c	Dr		100
	Loss on the issue of Debenture A/c	Dr		5
	To Debenture Application/c				100
	To Premium on Redemption/c				5
	(Being Debenture issued )