Question 36 Chapter 9 of +2-A – T.S. Grewal 12 Class

Question 36 Chapter 9 of +2-A

Question 36 Chapter 9 of +2-A

36. Pass necessary Journal entries relating to the issue of
debentures for the following:
(a)Issued Rs 28,000; 10% Debentures of Rs 100 each at a premium of
15% redeemable at par.
(b)Issued Rs 30,000; 10% Debentures of Rs 100 each at a premium of
10% and redeemable at a premium of 15%.
(c)Issued Rs 80,000; 10% Debentures of Rs 100 each at par repayable
at a premium of 10%.

The solution of Question 36 Chapter 9 of +2-A: – 

(a)

Date Particulars
L.F. Debit Credit
  Bank A/c Dr   32,300  
  To Debenture Application and Allotment A/c       32,300
  (Being Debenture application and allotments Received )        
  Debenture application and allotment A/c Dr   32,300  
  To 10%Debenture A/c       28,000
  To Securities Premium Reserve A/c       4,200
  (Being Debenture issued )        

 

(b)

Date Particulars
L.F. Debit Credit
  Bank A/c Dr   33,000  
  To Debenture Application and allotment A/c       33,000
  (Being Debenture application and Allotment Received )        
  Debenture application A/c Dr   33,000  
  Loss on the issue of Debenture A/c Dr   4,500  
  To 10%Debenture A/c       30,000
  To Securities premium reserve A/c       3,000
  To Premium on Redemption of Debentures A/c       4,500
  (Being Debenture issued )        

(c)

Date Particulars
L.F. Debit Credit
  Bank A/c Dr   80,000  
  To Debenture Application and Allotment A/c       80,000
  (Being Debenture application and Allotment Received )        
  Debenture application A/c Dr   80,000  
  Loss on the issue of Debenture A/c Dr   8,000  
  To 10%Debenture A/c       80,000
  To Premium on the redemption of debenture A/c       8,000
  (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)

  • Chapter No. 1 – Financial Statement of Not-For-Profit Organisations
  • Chapter No. 2 – Accounting for Partnership Firms – Fundamentals
  • Chapter No. 3 – Goodwill: Nature and Valuation
  • Chapter No. 4 – Change in Profit-Sharing Ratio Among the Existing Partners
  • Chapter No. 5 – Admission of a Partner
  • Chapter No. 6 – Retirement/Death of a Partner
  • Chapter No. 7 – Dissolution of a Partnership Firm

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)

  • Chapter No. 1 – Financial Statements of a Company
  • Chapter No. 2 – Financial Statement Analysis 
  • Chapter No. 3 – Tools of Financial Statement Analysis – Comparative Statements and Common- Size Statements
  • Chapter No. 4 – Accounting Ratios
  • Chapter No. 5 – Cash Flow Statement

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

2 Book 2 min - Question 36 Chapter 9 of +2-A - T.S. Grewal 12 Class

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