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Question no 08 Chapter 2- Class 12 Part 2 Unimax
A Ltd. issued 2,000, 9% Debenture of ₹ 100 each on the following terms:
₹ 20 on application; ₹ 20 on allotment; ₹ 30 on first call; ₹ 30 on final call.
The public applied for 2,400 Debenture. Application for 1,800 Debenture were accepted in full. Application for 400 Debentures were allotted 200 Debentures and applications for 200 Debentures were rejected. Pass necessary journal entries.
The solution of Question no 08 Chapter 2- Class 12 Part 2 Unimax:
Journal
| Date | Particulars | L.F. | Debit | Credit | |
| Bank A/c | Dr. | 48,000 | |||
| To Debenture application A/c | 48,000 | ||||
| (Being application money received on 2400 debenture @ ₹ 20 each) | |||||
| Debenture Application A/c | Dr. | 48,000 | |||
| To Debenture A/c | 40,000 | ||||
| To Bank A/c | 4,000 | ||||
| To Debenture allotment A/c | 4,000 | ||||
| (Being application money received) | |||||
| Debenture Allotment A/c | Dr. | 40,000 | |||
| To Debentures A/c | 40,000 | ||||
| (Being allotment money due on 2000 debenture @ ₹ 20 per share) | |||||
| Bank A/c | Dr. | 36,000 | |||
| To Debenture allotment A/c | 36,000 | ||||
| (Being the allotment money received) q | |||||
| Debenture first call A/c | Dr. | 60,000 | |||
| To Debenture A/c | 60,000 | ||||
| (Being first call money due on 2000 debenture @ ₹ 30 each) | |||||
| Bank A/c | Dr. | 60,000 | |||
| To Debenture first call A/c | 60,000 | ||||
| (Being first call money received) | |||||
| Debenture final call A/c | Dr. | 60,000 | |||
| To Debenture A/c | 60,000 | ||||
| (Being final call money due on 2000 debenture @ ₹ 3 per debenture) | |||||
| Bank A/c | Dr. | 60,000 | |||
| To Debenture final call A/c | 60,000 | ||||
| (Being final call money received) | |||||
Working Note:
| Lot 1 | Lot 2 | Lot 3 | Total | |
| No. of Debenture applied | 3,500 | 1,500 | 1,000 | 6,000 |
| No. of debenture allotted | 3,500 | 500 | Nil | 4,000 |
| Over subscription | Nil | 1,000 | 1,000 | 2,000 |
| ₹ | ₹ | ₹ | ₹ | |
| Excess amount received of application | 30,000 | 30,000 | 60,000 | |
| Adjusted towards allotment | 30,000 | Nil | 30,000 | |
| Amount to be refunded | 30,000 | 30,000 |
End of Solution
Check Out the Solution of all questions for this chapter:
The solution to all questions of Chapter No. 2 – Issue of Debentures Class 12 Unimax is shown as follows, click on the image of the question to get the solution.
Question no 06 Chapter 2- Class 12 Part 2 Unimax
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Question no 34 Chapter 2- Class 12 Part 2 Unimax
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Check out all books for PSEB
1. Comprehensive Solutions for All Chapters of Advanced Accountancy Part 1 Class 12 by Unimax
UnimaxSolutions.in offers a comprehensive solution for students studying Advanced Accountancy Part 1 in Class 12. With their meticulously curated study material, students can access comprehensive solutions to all the questions in each chapter. By selecting the chapter name from the study material, students can easily navigate through the topics and find detailed explanations and step-by-step solutions to the problems presented in that section. Whether it’s understanding complex accounting concepts, mastering calculation techniques, or analyzing financial statements, Unimax provides a valuable resource to aid students in their learning journey. With these comprehensive solutions at their disposal, students can enhance their understanding, clarify doubts, and improve their problem-solving skills in Advanced Accountancy, ensuring they are well-prepared for their Class 12 examinations.
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- Chapter No. 4 – Partnership Accounts – III (Change in Profit Sharing Ratio among Existing Partners)
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2. Comprehensive Solutions for All Chapters of Advanced Accountancy Part 2 Class 12 by Unimax
UnimaxSolutions.in presents an exceptional resource for students studying Advanced Accountancy Part 2 in Class 12. With their comprehensive study material, students can conveniently access extensive solutions to all the questions in each chapter. By simply selecting the desired chapter from the study material, students can effortlessly navigate through the topics and gain access to detailed explanations and step-by-step solutions to every problem presented in that particular section. Whether it involves understanding intricate accounting principles, honing calculation techniques, or analyzing complex financial statements, Unimax provides a valuable tool to support students in their learning journey. Equipped with these comprehensive solutions, students can enhance their comprehension, resolve any uncertainties, and strengthen their problem-solving abilities in Advanced Accountancy, empowering them to excel in their Class 12 examinations with confidence.
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- Chapter No. 5 -Financial Statement Analysis
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Punjab School Education Board (PSEB) Solutions of Usha Publication.
If you’re a student enrolled in the Punjab School Education Board Class 12, exploring a wide range of books to cover the syllabus thoroughly is essential. While the prescribed textbooks are undoubtedly valuable, supplementing your studies with additional resources can enhance your understanding and knowledge. Consider checking out other books that align with the curriculum, offering different perspectives and insights on the subjects you’re studying. These supplementary materials can provide you with alternative explanations, practice questions, and examples that may aid in clarifying complex concepts. Moreover, exploring diverse sources can expose you to various writing styles and viewpoints, fostering a broader understanding of the subjects. So, seize the opportunity to expand your learning by delving into other books that can complement your studies and contribute to your academic growth.
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