Question no 21 Chapter 2 - UNIMAX Class 12 Part 2

Question No 21 Chapter 2 – UNIMAX Class 12 Part 2 – 2021

Table of Contents

The solution of Question 21 Chapter 2 of +2 Part-2: –

Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution

Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution

Pass the necessary journal entries in the books of the company in the following case:
(1) 1,000, 8% debentures of ₹ 100 each have been issued at par and are redeemable at par.
(2) 1,000, 8% debenture of ₹ 100 each have been issued at 5% discount and are redeemable at par.
(3) 1,000, 8% debenture of ₹ 100 each have been issued at 5% premium and are redeemable at par.
(4) 1,000, 8% debenture of ₹ 100 each have been issued at par and redeemable at 5% premium.
(5) 1,000, 8% debenture of ₹ 100 each have been issued at 5% discount and are redeemable at 10% premium.

The solution of Question 21 Chapter 2 of +2 Part-2: –

Journal

Date	Particulars		L.F.	Debit	Credit
1	Bank A/c	Dr.		1,00,000
	To Debenture A/c				1,00,000
	(Being 1000 debenture. Issued at par and redeemed at par)
2	Bank A/c	Dr.		95,000
	Discount on issue of debenture A/c	Dr.		5,000
	To Debenture A/c				1,00,000
	(Being 1000 debenture issued at 5% discount a/c and redeemed at par)
3	Bank A/c	Dr.		1,05,000
	To Debentures A/c				1,00,000
	To Premium on red of debenture A/c				5,000
	(Being 1000 debenture issued at 5% pre and redeemed at par.)
4	Bank A/c	Dr.		1,00,000
	Loss on issue of debenture A/c	Dr.		5,000
	To Debenture A/c				1,00,000
	To Premium on red of debenture A/c				5,000
	(Being 1000 debenture issued at par and redeemed 5% premium)
5	Bank A/c	Dr.		95,000
	Discount on issue of debenture A/c	Dr.		5,000
	Loss on issue of debenture A/c	Dr.		10,000
	To Debenture A/c				1,00,000
	To Securities premium A/c				10,000
	(Being 1000 debenture issued at 5% discount and redeemed at 10% premium)