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Question no 5 Chapter 2 – UNIMAX Class 12 Part 2 – 2021

Question no -05 Chapter no -2 Unimax Class -12 Part - II
Question no -05 Chapter no -2 Unimax Class -12 Part - II

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Question No  5 Chapter 2 – UNIMAX  Class 12 Part 2 – 2021

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On 15.2.2022 ‘A’ Ltd. invited application for issue of 1,00,000 9% debentures of ₹ 100 each at a discount of 6% redeemable at par after three years. The full amount was payable on application and debenture were issued on 15.3.2022. pass the journal entries for the above transactions.

The solution of Question 5 Chapter 2 of +2 Part-2: –

Journal
Books of M/S A Ltd.

Date  Particulars
L.F.DebitCredit
15.3.2022Bank A/cDr. 94,00,000 
 To Debenture application A/c   94,00,000
 (Being application money received on 1,00,000 debenture @ ₹ 100 per debenture at a discount of 6%)    
15.3.2022Debenture Application A/cDr. 94,00,000 
 Discount on issue of Debenture A/cDr. 6,00,000 
 To Debenture A/c   1,00,00,000
 (Being application money transferred to 9% debenture a/c)    

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