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Question No 4 Chapter 2 – UNIMAX Class 12 Part 2 – 2021
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Table of Contents
A company issued 4,000, 14% debenture of ₹ 100 each payable as ₹ 30 On application and the balance on allotment. Application were received for 6,000 debentures out of which applications for 3,500 debentures were fully. Applications 1,500 debentures were allotted 500 debentures and the remaining rejected. All the sums were duly received. Journal the issue.
The solution of Question 4 Chapter 2 of +2 Part-2: –
Journal
Books of of M/S A Ltd.
| Date | Particulars | L.F. | Debit | Credit | |
| Bank A/c | Dr. | 1,80,000 | |||
| To Debenture application A/c | 1,80,000 | ||||
| (Being application money received) | |||||
| Debenture Application A/c | Dr. | 1,80,000 | |||
| To Debenture A/c | 1,20,000 | ||||
| To Debenture allotment A/c | 30,000 | ||||
| To Bank A/c | 30,000 | ||||
| (Being application money adjusted to 14% debenture allot and other refunded) | |||||
| Debenture Allotment A/c | Dr. | 2,80,000 | |||
| To Debentures A/c | 2,80,000 | ||||
| (Being allotment money due on 4000 debenture @ ₹ 70 each debenture) | |||||
| Bank A/c | Dr. | 2,50,000 | |||
| To Debenture allotment A/c | 2,50,000 | ||||
| (Being allotment money received) | |||||
Working Note:
| Lot 1 | Lot 2 | Lot 3 | Total | |
| No. of Debenture applied | 11,800 | 400 | 200 | 2400 |
| No. of debenture allotted | 1,800 | 200 | Nil | 2000 |
| Over subscription | Nil | 200 | 200 | 400 |
| ₹ | ₹ | ₹ | ₹ | |
| Excess amount received of application | 4000 | 4000 | 8000 | |
| Less: amount adjusted on all | 4000 | Nil | 4000 | |
| Amount to be refunded | 4000 | 4000 |
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Share Capital: Meaning, Types, and Classes
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
