Question 46 Chapter 9 of +2-A - T.S. Grewal 12 Class

Question 46 Chapter 9 of +2-A

Table of Contents

The solution of Question 46 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)

46. Global Ltd. issued 10,000, 8% Debentures of 􀀀 100 each redeemable in four equal instalments by draw of lots from the end of 3 years at a premium of 􀀀 9.
Pass the Journal entries for writing off the Loss on Issue of Debentures. Also, prepare Loss on the issue of Debentures Account.

The solution of Question 46 Chapter 9 of +2-A: –

Date	Particulars		L.F.	Debit	Credit
	Statement of Profit & Loss A/c	Dr		90,000
	To Loss on the issue of Debenture A/c				90,000
	(Being issue of debenture written off )

	Loss on the issue of Debenture A/c
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
	To 8% Debenture a/c		24,00,000		To equity share allotment a/c		90,000
			90,000				90,000