Question No 2 Chapter 2 – UNIMAX Class 12 Part 2 – 2021
Table of Contents
XYZ Limited issued 10,000, 10% debentures of ₹ 100 each at a premium of ₹ 5 per debenture, payable as follows:
On application ₹ 40 (including premium)
On allotment ₹ 65
All debentures were subscribed for and the money was duly received. Pass necessary journal entries to record the above of debentures.
The solution of Question 2 Chapter 2 of +2 Part-2: –
Journal
Books of XYZ Ltd.
| Date | Particulars |
L.F. | Debit | Credit | |
| Bank A/c | Dr. | 4,00,000 | |||
| To Debenture application A/c | 4,00,000 | ||||
| (Being application money received on 10,000 debenture @ ₹ 40 including premium @ ₹ 5 per share) | |||||
| Debenture Application A/c | Dr. | 4,00,000 | |||
| To Debenture A/c | 3,50,000 | ||||
| To Securities premium A/c | 50,000 | ||||
| (Being application money transferred to 10% debentures a/c and securities premium a/c) | |||||
| Debenture Allotment A/c | Dr. | 6,50,000 | |||
| To Debentures A/c | 6,50,000 | ||||
| (Being allotment money due on 10,000 share @ ₹ 65 per share) | |||||
| Bank A/c | Dr. | 6,50,000 | |||
| To Debenture allotment A/c | 6,50,000 | ||||
| (being allotment money received on 10,000 debenture @ ₹ 65 per shares) | |||||
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Share Capital: Meaning, Types, and Classes
Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution
- Chapter No. 1 – Accounting Not for Profit Organisations
- Chapter No. 2 – Partnership Accounts – I (Introduction)
- Chapter No. 3 – Partnership Accounts – II (Goodwill: Nature and Valuation)
- Chapter No. 4 – Partnership Accounts – III (Reconstitution of Partnership)
- Chapter No. 5 – Partnership Accounts – IV (Admission of A Partner)
- Chapter No. 6 – Partnership Accounts – V (Retirement and Death of A Partner)
- Chapter No. 7 – Partnership Accounts – VI (Dissolution of Partnership Firm)
- Chapter No. 8 – Company Accounts (Share Capital)
- Chapter No. 9 – Company Accounts (Issue of Debentures)
- Chapter No. 10 – Company Accounts (Redemption of Debentures)
Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution
- Chapter No. 1 – Financial Statements of a Company
- Chapter No. 2 – Financial Statement Analysis
- Chapter No. 3 – Tools of Financial Statement Analysis- Comparative and Common Size
- Chapter No. 4 – Ratio Analysis
- Chapter No. 5 – Cash Flow Statement
Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication
