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

Question 37 Chapter 9 of +2-A

Question 37 Chapter 9 of +2-A

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 )        

 

 

 


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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)

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

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