Advertisement

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

Question 9 Chapter 9 of +2-A
Question No9 - Chapter No.9 - T.S. Grewal +2 Book 2019-Solution

Advertisement

Question 9 Chapter 9 of +2-A

Advertisement

9. Iron Products Ltd. issued 5,000; 9% Debentures of ₹ 100 each at a premium of ₹ 40 payable as follows;
(i) ₹ 40, including a premium of ₹ 10 on applications;
(ii) ₹ 45, including a premium of ₹ 15 on allotment; and
(iii) Balance as first and final call. The issue was subscribed and allotment made. Calls were made and the due amount was received.
Pass Journal entries.

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

     
DateParticulars
L.F.DebitCredit
  Bank A/cDr 2,00,000 
 To 9%Debenture application A/c   2,00,000
 (Being the application money received )    
  9% Debenture application A/cDr 2,00,000 
 To 9% Debenture A/c   1,50,000
 To 9% Debenture allotment/c   50,000
 (Being application money transferred to equity share capital )    
 9%Debenture allotment A/cDr 2,25,000 
 To 9%Debebture A/c   1,50,000
 To Securities Premium A/c   75,000
 (Being the allotment money due with security premium )    
 Bank A/cDr 2,25,000 
 To 9% Debenture Allotment A/c   2,25,000
 (Being application money transferred to equity share capital )    
 9%Debenture First and final call A/cDr 2,75,000 
 To 9% Debenture A/c   2,00,000
 To Securities Premium A/c   75,000
 (Being the first and final call money due )    
 Bank A/cDr 2,75,000 
 To 9%Debenture first and final call A/c   2,75,000
 (Being first and final call money received )    

 


Please Like and share with your friends  

Advertisement-X

Comment if you have any question.

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)

Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication

+2 Book 2-min

Advertisement

Advertisement

error: Content is protected !!