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

Question 46 Chapter 9 of +2-A

Question 46 Chapter 9 of +2-A

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

 

 


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

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