Question no 25 Chapter 2 - UNIMAX Class 12 Part 2

Question No 25 Chapter 2 – UNIMAX Class 12 Part 2 – 2021

Table of Contents

The solution of Question 25 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 journal entries to record the issue of debentures in the following case:
(1) 5,000, 15% debentures of ₹ 100 each issue at a discount of 5% and redeemable at premium of 5% after 5 years.
(2) 10,000, 15% debentures of ₹ 100 each issue at a premium of 10% and redeemable after 5 years.

The solution of Question 25 Chapter 2 of +2 Part-2: –

Journal

Date	Particulars		L.F.	Debit	Credit
	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.		25,000
	To Debenture A/c				5,00,000
	To Premium on red of debenture A/				25,000
	(Being 5000 debenture issued at 5% discount and redeemed at 5% premium)
	Bank A/c	Dr.		11,00,000
	To Debenture A/c				10,00,000
	To Securities premium A/c				1,00,000
	(Being 5000 debentures issued at 5% premium and redeemed at par)