Question 7 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Posted by By Kuljeet Singh 3 Min Read July 13, 2024
Question 7 Chapter 9 of +2-Part-1 - USHA Publication 12 Class Part - 1
Question 7 Chapter 9 of +2-Part-1 - USHA Publication 12 Class Part - 1

Question 7 Chapter 9 of +2-Part-1

7. (Issue at Discount/Balance Sheet) Sunlight Ltd. issued 9,000, 6 % Debentures of Rs. 100 each at a discount of 5%. Amount was payable as follows:

₹ 30 on application
₹ 45 on allotment
₹ 20 on final call.

Applications were received for 8,000 debentures. All amounts were duly received.
Pass journal entries and show the balance sheet.

The solution of Question 7 Chapter 9 of +2 Part-1: –

Solution of Questions 5 6 7 & 8 Issue of Debentures Chapter 9 Accounts Part B class 12 PSEB Day 194
Watch this video on YouTube.

Journal
Date   Particulars
 L.F. Debit ₹ Credit ₹
  8% Debenture Application A/c Dr.   2,40,000  
  To 8% Debenture A/c       2,40,000
  (Being 8,000 debentures allotted .)      
         
  8% Debenture Allotment A/c Dr.   3,60,000  
  Discount on Debentures Dr.   40,000  
  To 8% Debenture A/c     4,00,000
  (Being allotment due)      
         
  8 % Debenture Final Call A/c Dr.   1,60,000  
  To 8% Debenture A/c     1,60,000
  (Being final call money due )      
         

Sunlight Ltd. Balance Sheet Schedule III (Part I)

Sr. No. Particulars
 Note No. FIG. RELATING TO CURRENT REPORTNG PERIOD FIG. RELATING TO PREVIOUS REPORTNG PERIOD
I Equity & Liability      
  Shareholders fund      
  Reserve & Surplus      
  Non current Liabilities   7,60,000  
  Current Liabilities      
  Total   7,60,000  
II Assets      
  Non -Current Assets
     
  Current Assets
     
  Cash & Cash equivalent
     
  Cash in hand
 1 7,60,000  
  Total   7,60,000  

Notes to Accounts

Note 1 :- Cash Account

Particulars ₹ Particulars ₹
To 8% Debenture Application A/c 2,40,000 By Balance c/d 7,60,000
To 8% Debenture Allotment A/c 3,60,000    
To 8% Debenture Final call A/c 1,60,000    
  7,60,000   7,60,000


It all about Question 7 Chapter 9 of +2-Part-1, If you have any problem please comment below.

Issue of Debentures from the point of view of Redemption

End of Solution

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Check Out the Solution of all questions of this chapter:

The solution to all questions of Chapter No. 9 – Company Accounts (Issue of Debentures) Class 12 Usha Publication – 2024 is shown as follows, click on the image of the question to get the solution.

Question 1 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 2 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 3 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 4 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 5 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 6 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 7 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 8 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

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Question 12 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

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Question 13 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 14 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 15 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 16 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 17 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 18 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 19 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 20 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 21 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 22 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

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Question 23 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 24 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 25 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 26 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

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Question 27 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 28 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 29 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 30 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 31 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 32 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

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Question 33 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

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Chapter-Wise Solution of Usha Publication Accountancy – Part 2 Class 12 – Session 2024-25 as per the PSEB curriculum

Check out Solutions to all questions of the every chapter shown as under. The Solution of Accountancy – Part 2 Class 12 – Session 2024-25 is provided as per the new book published by Usha Publication.

Chapter No. 8 – Company Accounts (Share Capital)

Chapter No. 9 – Company Accounts (Issue of Debentures)

Chapter No. 10 – Company Accounts (Redemption of Debentures)

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Chapter No. 11 – Financial Statements of a Company

Chapter No. 12 – Financial Statement Analysis

Chapter No. 13 – Tools of Financial Statement Analysis- Comparative and Common Size

Chapter No. 14 – Accounting Ratios

Chapter No. 15 – Cash Flow Statement

Also, Check out our Comprehensive Chapter-wise solution of Advanced Accountancy Part 2 Class 12 by Unimax Publication

Check out Part 1 of both books.

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1. Accountancy – Part 1 Class 12 – Session 2024-25 By Usha Publication

Accountancy – Part 1 Class 12 – Session 2024-25 – Solution for free

2. Advanced Accountancy Part 1 Class 12 by Unimax Publication

Advanced Accountancy II Part 1 Class 12 – Solution for free

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