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प्रश्न
Zoltas Ltd. issued 40,000; 9% Debentures of ₹ 100 each at par for cash payable along with the application. Applications were received for 60,000 debentures. Debentures were allotted and excess application money was refunded. Pass Journal entries in the books of the company.
रोजकीर्द नोंद
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उत्तर
| Journal Entries In the Books of Zoltas Ltd. |
||||
|---|---|---|---|---|
| Date | Particulars | L.F. | Dr. (₹) | Cr. (₹) |
| 1. | Bank A/c ...Dr. | 60,00,000 | ||
| To Debentures Application A/c | 60,00,000 | |||
| (Application money received on 60,000 debentures) | ||||
| 2. | Debentures Application A/c ...Dr. | 60,00,000 | ||
| To 9% Debentures A/c | 40,00,000 | |||
| To Bank A/c | 20,00,000 | |||
| (40,000 debentures allotted and excess application money refunded) | ||||
Working Note:
Application money received:
60,000 × ₹ 100 = ₹ 60,00,000
Amount required for 40,000 debentures:
40,000 × ₹ 100 = ₹ 40,00,000
Excess application money refunded:
₹ 60,00,000 − ₹ 40,00,000 = ₹ 20,00,000
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