Question 44 Chapter 9 of +2-A – T.S. Grewal 12 Class

Question 44 Chapter 9 of +2-A

Question 44 Chapter 9 of +2-A

44. A limited company issued Rs 1,00,000, 9% Debentures at a discount of 6% on 1st April, 2017. These debentures are to be redeemed equally, spread over 5 annual instalments.
Pass the Journal entries for issue of debentures and writing off the discount.

The solution of Question 44 Chapter 9 of +2-A: – 

 

Date Particulars
L.F. Debit Credit
  Bank A/c Dr   94,000  
  To Debenture Application & Allotment A/c       94,000
  (Being application money received on 9%debenture )        
  Debenture Application & Allotment A/c Dr   94,000  
  Discount on issue of Debenture A/c Dr   6,000  
  To 9%Debenture A/c       1,00,000
  (Being application and allotment money adjusted )        
  Statement of Profit & Loss A/c Dr   6,000  
  To Discount on issue of Debenture A/c       6,000
  (Being a discount issue of debenture written off )        

 

 


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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

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