Advertisement

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

Question no -21 Chapter no -2 Unimax Class -12 Part - II
Question no -21 Chapter no -2 Unimax Class -12 Part - II

Advertisement

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

Advertisement

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.DebitCredit
1Bank A/cDr. 1,00,000 
 To Debenture A/c   1,00,000
 (Being 1000 debenture. Issued at par and redeemed at par)    
2Bank A/cDr. 95,000 
 Discount on issue of debenture A/cDr. 5,000 
 To Debenture A/c  1,00,000
 (Being 1000 debenture issued at 5% discount a/c and redeemed at par)    
3Bank A/cDr. 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.)    
4Bank A/cDr. 1,00,000 
 Loss on issue of debenture A/cDr. 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)    
5Bank A/cDr. 95,000 
 Discount on issue of debenture A/cDr. 5,000 
 Loss on issue of debenture A/cDr. 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)   

Thanks, Please Like and share with your friends  

Comment if you have any Doubts.

Share Capital: Meaning, Types, and Classes

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

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

Advertisement-X

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

Question 1 Chapter 1 of +2-B
T.S. Grewal’s Analysis of Financial Statements

Advertisement

Advertisement

error: Content is protected !!