Advertisement

Question 39 Chapter 9 of +2-A – T.S. Grewal 12 Class

Question 39 Chapter 9 of +2-A
Question No39 - Chapter No.9 - T.S. Grewal +2 Book 2019-Solution

Advertisement

Question 39 Chapter 9 of +2-A

Advertisement

39. Pass necessary Journal entries for the issue of Debentures in the following cases:
(a)Rs 40,000; 15% Debentures of Rs 100 each issued at a discount of 10% redeemable at par.
(b)Rs 80,000; 15% Debentures of Rs 100 each issued at a premium of 10% redeemable at a premium of 10%.

The solution of Question 39 Chapter 9 of +2-A: – 

 

DateParticulars
L.F.DebitCredit
 Bank A/cDr 36,000 
 To Debenture Application A/c   36,000
 (Being Debenture Application Received )    
 Debenture Application A/cDr 36,000 
 Discount on issue of Debenture A/cDr 4,000 
 To 15%Debenture A/c   40,000
 (Being Debenture issued at a premium)    

 

DateParticulars
L.F.DebitCredit
 Bank A/cDr 88,000 
 To Debenture Application and Allotment A/c   88,000
 (Being Debenture Application Received )    
 Debenture Application A/cDr 88,000 
  Loss on issue of Debenture A/cDr 8,000 
 To 15%Debenture A/c   80,000
 To Securities Premium A/c   8,000
 To Premium on Redemption A/c   8,000
 (Being Debenture issued at a premium)    

Advertisement-X

 


Please Like and share with your friends  

Comment if you have any question.

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

Advertisement

Advertisement

error: Content is protected !!