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

Question 36 Chapter 9 of +2-A
Question No36 - Chapter No.9 - T.S. Grewal +2 Book 2019-Solution

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Question 36 Chapter 9 of +2-A

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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)

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

 

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(b)

DateParticulars
L.F.DebitCredit
 Bank A/cDr 33,000 
 To Debenture Application and allotment A/c   33,000
 (Being Debenture application and Allotment Received )    
 Debenture application A/cDr 33,000 
 Loss on the issue of Debenture A/cDr 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)

DateParticulars
L.F.DebitCredit
 Bank A/cDr 80,000 
 To Debenture Application and Allotment A/c   80,000
 (Being Debenture application and Allotment Received )    
 Debenture application A/cDr 80,000 
 Loss on the issue of Debenture A/cDr 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)

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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