Question no 23 Chapter 2 - UNIMAX Class 12 Part 2

Question No 23 Chapter 2 – UNIMAX Class 12 Part 2 – 2021

Table of Contents

The solution of Question 23 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 following transactions.
(1) X Ltd. issues ₹ 2,00,000, 12% debenture at a discount of 5% redeemable at par.
(2) Y Ltd. issues ₹ 5,00,000 debentures at a discount of 5% redeemable at a premium of 7%.

The solution of Question 23 Chapter 2 of +2 Part-2: –

Journal

Date	Particulars		L.F.	Debit	Credit
1	Bank A/c	Dr.		1,90,000
	Discount on issue of debenture A/c	Dr.		10,000
	To Debenture A/c				2,00,000
	(Being Issued of debenture at 5% discount and redeemed at par)
2	Bank A/c	Dr.		4,75,000
	Discount on issue of debenture A/c	Dr.		25,000
	Loss on issue of debenture A/c	Dr.		35,000
	To Debenture A/c				5,00,000
	To premium on red of debenture A/c				35,000
	(Being issue of debenture at 5% discount and redeemed at 9 premium of 7%)