Question no 22 Chapter 2 - UNIMAX Class 12 Part 2

Question No 22 Chapter 2 – UNIMAX Class 12 Part 2 – 2021

Table of Contents

The solution of Question 22 Chapter 2 of +2 Part-2: –

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

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

Journalise the transactions given below:
I. A debenture issued at ₹ 95, repayable at ₹ 100.
II. A debenture issued at ₹ 95, repayable at ₹ 105.
III. A debenture issued at ₹ 100, repayable at ₹ 105.
IV. A debenture issued at ₹ 105, repayable at ₹ 100.
The face value of debenture in each of the above case is ₹ 100.

The solution of Question 22 Chapter 2 of +2 Part-2: –

Journal

Date	Particulars		L.F.	Debit	Credit
1	Bank A/c	Dr.		95
	Discount on issue of debenture A/c	Dr.		5
	To Debenture A/c				100
	(Being 100 debenture. Issued at 5% discount redeemed at par)
2	Bank A/c	Dr.		95
	Discount on issue of debenture A/c	Dr.		5
	Loss on issue of debenture A/c	Dr.		5
	To Debenture A/c				100
	To Premium on red of debenture A/c				5
	(Being 100 debenture issued at 5% discount a/c and redeemed at par)
3	Bank A/c	Dr.		100
	Loss on issue of debenture A/c	Dr.		5
	To Debentures A/c				100
	To Premium on red of debenture A/c				5
	(Being 100 debenture issued at par and redeemed at par 5%)
	Bank A/c	Dr.		105
	To Debenture A/c				100
	To Securities premium A/c				5
	(Being 100 debenture issued at premium and redeemed at Par)