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Question No 3 Chapter 2 – UNIMAX Class 12 Part 2 – 2021
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Table of Contents
S. Ltd issued 2,000, 8% Debentures of ₹ 10 each at par payable as follows: On application ₹ 3; On allotment ₹ 2 and the balance in two equal calls. All money due on various instalments were duly received. Give journal entries.
The solution of Question 3 Chapter 2 of +2 Part-2: –
Journal
Books of ‘S’ Ltd.
| Date | Particulars | L.F. | Debit | Credit | |
| Bank A/c | Dr. | 6,000 | |||
| To Debenture application A/c | 6,000 | ||||
| (Being application money received on 2000 debenture @ ₹ 3 each) | |||||
| Debenture Application A/c | Dr. | 6,000 | |||
| To Debenture A/c | 6,000 | ||||
| (Being application money transferred to 8% debentures a/c) | |||||
| Debenture Allotment A/c | Dr. | 4,000 | |||
| To Debentures A/c | 4,000 | ||||
| (Being allotment money due on 2000 debenture @ ₹ 2 per share) | |||||
| Bank A/c | Dr. | 4,000 | |||
| To Debenture allotment A/c | 4,000 | ||||
| (Being the allotment money received) | |||||
| Debenture first call A/c | Dr. | 5,000 | |||
| To Debenture A/c | 5,000 | ||||
| (Being first call money due on 2000 debenture @ ₹ 2.50 each) | |||||
| Bank A/c | Dr. | 5,000 | |||
| To Debenture first call A/c | 5,000 | ||||
| (Being first call money received) | |||||
| Debenture second and final call A/c | Dr. | 5,000 | |||
| To Debenture A/c | 5,000 | ||||
| (Being debenture second and final call money due on 2000 debenture @ ₹ 2.50 per debenture) | |||||
| Bank A/c | Dr. | 5,000 | |||
| To Debenture second and final call A/c | 5,000 | ||||
| (Being the second and final call money received) | |||||
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Share Capital: Meaning, Types, and Classes
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Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution
- Chapter No. 1 – Accounting Not for Profit Organisations
- Chapter No. 2 – Partnership Accounts – I (Introduction)
- Chapter No. 3 – Partnership Accounts – II (Goodwill: Nature and Valuation)
- Chapter No. 4 – Partnership Accounts – III (Reconstitution of Partnership)
- Chapter No. 5 – Partnership Accounts – IV (Admission of A Partner)
- Chapter No. 6 – Partnership Accounts – V (Retirement and Death of A Partner)
- Chapter No. 7 – Partnership Accounts – VI (Dissolution of Partnership Firm)
- Chapter No. 8 – Company Accounts (Share Capital)
- Chapter No. 9 – Company Accounts (Issue of Debentures)
- Chapter No. 10 – Company Accounts (Redemption of Debentures)
Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution
- Chapter No. 1 – Financial Statements of a Company
- Chapter No. 2 – Financial Statement Analysis
- Chapter No. 3 – Tools of Financial Statement Analysis- Comparative and Common Size
- Chapter No. 4 – Ratio Analysis
- Chapter No. 5 – Cash Flow Statement
Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication
