Question 5 Chapter 9 of +2-A – T.S. Grewal 12 Class

Question 5 Chapter 9 of +2-A

Question 5 Chapter 9 of +2-A

5.Raj Ltd . issued 5,000;  8% Debentures of ₹ 100 each at a premium of 5% payable as follows:₹ 10 on application ; ₹ 20 along with premium on allotment and balance on first and final call.
Pass necessary Journal entries.

The solution of Question 5 Chapter 9 of +2-A: – 

         
Date Particulars
L.F. Debit Credit
   Bank A/c Dr   50,000  
  To 8%Debenture application A/c       50,000
  (Being the application money received )        
   8% Debenture application A/c  Dr   50,000  
  To 8% Debenture A/c       50,000
  (Being application money transferred to equity share capital )        
   8%Debenture allotment A/c Dr   1,00,000  
  To 8%Debebture A/c       75,000
  To Securities Premium A/c       25,000
  (Being the first call money due )        
  Bank A/c Dr   1,00,000  
  To 8% Debenture Allotment A/c       1,00,000
  (Being allotment money received  )        
  8%Debenture First and final call A/c Dr   3,75,000  
  To 8% Debenture A/c       3,75,000
  (Being the first and final call money due )        
  Bank A/c Dr   3,75,000  
  To 8%Debenture first and final call A/c       3,75,000
  (Being first and final call money received )        

 


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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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