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Question 34 Chapter 9 of +2-A – T.S. Grewal 12 Class

Question 34 Chapter 9 of +2-A
Question No34 - Chapter No.9 - T.S. Grewal +2 Book 2019-Solution

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Question 34 Chapter 9 of +2-A

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34. Footfall Ltd. issues 10,000 Debentures of 100 each at a discount of 10% redeemable at a premium of 5% after the expiry of three years.
Pass Journal entries for the issue of these debentures.

The solution of Question 34 Chapter 9 of +2-A: – 

DateParticulars
L.F.DebitCredit
 Bank A/cDr 9,00,000 
 To Debenture Application/c   9,00,000
 (Being Debenture application Received)    
      
 Debenture application A/cDr 9,00,000 
 Debenture application A/cDr 1,00,000 
 To Debenture Application/cDr 50,000 
 To 12% Application A/c   10,00,000
 To Debenture Application A/c   50,000
 (Being 10,000 Debenture of Rs 100 each issued at debenture )    
      
 Bank A/cDr 10,00,000 
 Premium on Redemption A/cDr 50,000 
 To Debenture Application/c   10,50,000
 (Being amount due for redemption on paid to premium redemption )    
      
 Debenture Holder’s A/cDr 10,50,000 
 To Bank A/c   10,50,000
 (Being amount due for re redemption to debenture holders )    

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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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