Question 37 Chapter 9 of +2-A - T.S. Grewal 12 Class

Question 37 Chapter 9 of +2-A

Table of Contents

The solution of Question 37 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)

37. Journalise the following transaction at the time of issue of 12% Debentures: Nandan Ltd. Issued Rs 90,000, 12% Debentures of Rs 100 each at a discount of 5% redeemable at 110%.

The solution of Question 37 Chapter 9 of +2-A: –

(a)

Date	Particulars		L.F.	Debit	Credit
	Bank A/c	Dr		85,500
	To Debenture Application and Allotment A/c				85,500
	(Being Debenture application and allotments Received )
	Debenture application and allotment A/c	Dr		85,500
	To 10%Debenture A/c				90,000
	To Premium on Redemption of Debenture A/c				9,000
	(Being Debenture application and allotment money transferred to Debenture A/C )