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VDO+ Tag:Question 4 Chapter 9 of Class 12 Part – 2 – 2024
4. (Issue at Premium/Journal/Balance Sheet) Aurangabad Mills Ltd. Issued Rs. 5,00,000,6% Debentures of Rs. 500 each at a premium of 5%. The amount was payable as follows:
On application Rs. 100
On allotment Rs. 250(including premium)
On first call Rs. 175.
The company received applications for 1,020 debentures and allotment being made to the applicants of 1000 shares. Excess amount was refunded.
Give journal entries and show the balance sheet.
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Video Tag:The solution of Question 4 Chapter 9 of Class 12 Part – 2 – 2024: –
We are providing a solution of Question 4 Chapter 9 of Class 12 Part – 2 – 2024 Usha Publication in two formats. one is in Video format and another is in article format. Check out both formats as follows:
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The video consists solution of question numbers from 1 to 4 Chapter no. 9 class 12 of Usha publication. To check the direct solution of question no. 4 from the following video by using time stamps of the video.
2. Check out the Solution of Question 4 Chapter 9 of Class 12 Part – 2 – 2024 in Article Format:-
| Journal |
|||||
| Date | Particulars |
L.F. | Debit | Credit | |
| Bank A/c | Dr. | 1,02,000 | |||
| To Debenture Application A/c | 1,02,000 | ||||
| (Being app. Money received ) | |||||
| Debenture Application A/c | Dr. | 1,02,000 | |||
| To 6% Debenture A/c | 1,00,000 | ||||
| To Bank A/c | 2,000 | ||||
| (Being transfer of app. Money on 1,000 debentures & refund of amount on 20 app.) | |||||
| Debenture Allotment A/c | Dr. | 2,50,000 | |||
| To 6% Debenture A/c | 2,25,000 | ||||
| To Securities Premium Reserve A/c | 25,000 | ||||
| (Being allotment amount transferred to debentures & premium A/c) | |||||
| Bank A/c | Dr. | 2,50,000 | |||
| To Debenture Allotment A/c | 2,50,000 | ||||
| (Being allotment money received ) | |||||
| Debenture First & Final Call A/c (1,000 X 30) | Dr. | 1,75,000 | |||
| To 6% Debenture A/c | 1,75,000 | ||||
| (Being first & final call money due ) | |||||
| Bank A/c | Dr. | 1,75,000 | |||
| To Debenture first & final call A/c | 1,75,000 | ||||
| (Being first & final call money received ) | |||||
Aurangabad Mills Ltd. Balance Sheet Schedule III (Part I)
| Sr. No. | Particulars |
Note No. | FIG. RELATING TO CURRENT REPORTNG PERIOD | FIG. RELATING TO PREVIOUS REPORTNG PERIOD | |
| I | Equity & Liability | ||||
| Shareholders fund | |||||
| Reserve & Surplus | 1 | 25,000 | |||
| Non current Liabilities | 2 | 5,00,000 | |||
| Current Liabilities | |||||
| Total | 5,25,000 | ||||
| II | Assets | ||||
| Non -Current Assets |
|||||
| Current Assets |
|||||
| Cash & Cash equivalent |
5,25,000 | ||||
| Total | 5,25,000 | ||||
Note 1:- Reserve & Surplus
| Particulars |
₹ | |
| Secruity Premium | 25,000 | |
| Total | 25,000 | |
Note 2 :- Non – Current Liabilities
| Particulars |
₹ | |
| 5 % Debentures | ||
| 1,000 Debentures of ₹ 500 each | 5,00,000 | |
| Total | 5,00,000 | |
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Chapter-Wise Solution of Usha Publication Accountancy – Part 2 Class 12 – Session 2024-25 as per the PSEB curriculum
Check out Solutions to all questions of the every chapter shown as under. The Solution of Accountancy – Part 2 Class 12 – Session 2024-25 is provided as per the new book published by Usha Publication.
Chapter No. 8 – Company Accounts (Share Capital)
Chapter No. 9 – Company Accounts (Issue of Debentures)
Chapter No. 10 – Company Accounts (Redemption of Debentures)
Chapter No. 11 – Financial Statements of a Company
Chapter No. 12 – Financial Statement Analysis
Chapter No. 13 – Tools of Financial Statement Analysis- Comparative and Common Size
Chapter No. 14 – Ratio Analysis
Chapter No. 15 – Cash Flow Statement
Also, Check out our Comprehensive Chapter-wise solution of Advanced Accountancy Part 2 Class 12 by Unimax Publication
- Chapter No. 1 – Company Accounts (Share Capital)
- Chapter No. 2 – Issue of Debentures
- Chapter No. 3 – Redemption of Debentures
- Chapter No. 4 – Financial Statements of a Company (Balance Sheet Only)
- Chapter No. 5 -Financial Statement Analysis
- Chapter No. 6 – Tools/Methods of Financial Analysis
- Chapter No. 7 – Ratio Analysis
- Chapter No. 8 – Cash Flow Statement
Check out Part 1 of both books.
In Class 12th the accountancy has 2 books i.e. Part 1 and Part 2. The Books related to the Part 1 are shown above. but If you want to know more about Part 1, you can check it out from the following links. We have provided the links to both books i.e. Accountancy Part 1 by Usha Publication and Advanced Accountancy Part 2 by Unimax Publication.
1. Accountancy – Part 1 Class 12 – Session 2024-25 By Usha Publication
2. Advanced Accountancy Part 1 Class 12 by Unimax Publication