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

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

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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)

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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

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.

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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

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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

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

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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

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

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

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

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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

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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

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

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Chapter No. 8 – Company Accounts (Share Capital)

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

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

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

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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

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

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2. Advanced Accountancy Part 1 Class 12 by Unimax Publication

Advanced Accountancy II Part 1 Class 12 – Solution for free

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

Check Out the Solution of all questions of this chapter:

Download a PDF of Chapter No. 9 – Company Accounts (Issue of Debentures):

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

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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