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Question 33 Chapter 9 of +2-A

Question 33 Chapter 9 of +2-A
Question No 33 - Chapter No.9 - T.S. Grewal +2 Book 2019-Solution

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Question 33 Chapter 9 of +2-A

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33. Pass journal entries in the following cases:
(a)A Co.Ltd. issued Rs 40,000; 12% Debentures at a premium of 5% redeemable at par.
(b)A Co.Ltd. issued Rs 40,000; 12% Debentures at a discount of 10% redeemable at par.
(c)A Co.Ltd. issued Rs 40,000; 12% Debentures at par redeemable at 10% premium.
(d)A Co.Ltd. issued Rs 40,000; 12% Debentures at a discount of 5% and redeemable at 5% premium.
(e)A Co.Ltd. issued Rs 40,000; 12% Debentures at a premium of 10% redeemable at 110%..

The solution of Question 33 Chapter 9 of +2-A: – 

(a)

DateParticulars
L.F.DebitCredit
 Bank A/cDr 42,000 
 To 12%Debenture Application/c   42,000
 (Being Debenture application Received )    
 Debenture application A/cDr 42,000 
 To 12% Application A/c   40,000
 To Debenture Application/c   2,000
 (Being Debenture application Received )    

 

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(b)

DateParticulars
L.F.DebitCredit
 Bank A/cDr 36,000 
 To 12%Debenture Application/c   36,000
 (Being Debenture application Received )    
 12%Debenture application A/cDr 36,0000 
 Loss on the issue of Debenture A/cDr 4,000 
 To Debenture Application/c   40,000
 (Being Debenture issued )    

 

(c)

DateParticulars
L.F.DebitCredit
 Bank A/cDr 40,000 
 To Debenture Application/c   40,000
 (Being Debenture application Received )    
 Debenture application A/cDr 40,000 
 Loss on the issue of Debenture A/cDr 4,000 
 To Debenture Application/c   40,000
 To Premium on Redemption/c   4,000
 (Being Debenture issued )    

 

(d)

DateParticulars
L.F.DebitCredit
 Bank A/cDr 40,000 
 To Debenture Application/c   40,000
 (Being Debenture application Received )    
 Debenture application A/cDr 38,000 
 Discount on Issue of debenture A/cDr 2,000 
 Loss on the issue of Debenture A/cDr 2,000 
 To Debenture Application/c   40,000
 To Premium on Redemption/c   4,000
 (Being Debenture issued )    

 

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(e)

DateParticulars
L.F.DebitCredit
 Bank A/cDr 40,000 
 To Debenture Application/c   40,000
 (Being Debenture application Received )    
 Debenture application A/cDr 44,000 
 Loss on the issue of Debenture A/cDr 4,000 
 To Debenture Application/c   40,000
 To Securities premium A/c   4,000
 To Premium on Redemption/c   4,000
 (Being Debenture issued )    

 

 


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Also, Check out the solved question of previous Chapters: –

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)

T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication

+2 Book 2-min

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