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VDO+ Tag:Question 7 Chapter 9 of Class 12 Part – 2 – 2024
7. (Issue at Discount/Balance Sheet) Sunlight Ltd. issued 9,000, 6 % Debentures of Rs. 100 each at a discount of 5%. Amount was payable as follows:
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Video Tag:| ₹ 30 | on application |
| ₹ 45 | on allotment |
| ₹ 20 | on final call. |
Applications were received for 8,000 debentures. All amounts were duly received.
Pass journal entries and show the balance sheet.
The solution of Question 7 Chapter 9 of Class 12 Part – 2 – 2024: –
We are providing a solution of Question 7 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:
1. Check out the Solution of this question in Video Format:-
The video consists solution of question numbers from 5 to 8 Chapter no. 9 class 12 of Usha publication. To check the direct solution of question no. 7 from the following video by using time stamps of the video.
2. Check out the Solution of Question 7 Chapter 9 of Class 12 Part – 2 – 2024 in Article Format:-
| Journal |
|||||
| Date | Particulars |
L.F. | Debit ₹ | Credit ₹ | |
| 8% Debenture Application A/c | Dr. | 2,40,000 | |||
| To 8% Debenture A/c | 2,40,000 | ||||
| (Being 8,000 debentures allotted .) | |||||
| 8% Debenture Allotment A/c | Dr. | 3,60,000 | |||
| Discount on Debentures | Dr. | 40,000 | |||
| To 8% Debenture A/c | 4,00,000 | ||||
| (Being allotment due) | |||||
| 8 % Debenture Final Call A/c | Dr. | 1,60,000 | |||
| To 8% Debenture A/c | 1,60,000 | ||||
| (Being final call money due ) | |||||
Sunlight 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 | |||||
| Non current Liabilities | 7,60,000 | ||||
| Current Liabilities | |||||
| Total | 7,60,000 | ||||
| II | Assets | ||||
| Non -Current Assets |
|||||
| Current Assets |
|||||
| Cash & Cash equivalent |
1 | 7,60,000 | |||
| Total | 7,60,000 | ||||
Notes to Accounts
Note 1 :- Cash Account
| Particulars | ₹ | Particulars | ₹ |
| To 8% Debenture Application A/c | 2,40,000 | By Balance c/d | 7,60,000 |
| To 8% Debenture Allotment A/c | 3,60,000 | ||
| To 8% Debenture Final call A/c | 1,60,000 | ||
| 7,60,000 | 7,60,000 |
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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