Advertisement Remove all ads

Amrit Ltd . Was Promoted by Amrit and Bhaskar with an Authorised Capital of ​₹ 10,00,000 Divide into 1,00,000 Shares of ​₹ 10 Each. - Accountancy

Journal Entry

Amrit Ltd . was promoted by Amrit and Bhaskar with an authorised capital of ​₹  10,00,000 divide into 1,00,000 shares of ​₹  10 each.
The company decided to issue 1,000,6% Debentures of ​₹  100 each to Amrit and Bhaskar  each for their services in incorporating the company.
Pass journal entry.

Advertisement Remove all ads

Solution

Journal

Date

Particulars

L.F.

Debit

Amount

(Rs)

Credit

Amount

(Rs)

 

Incorporation Cost A/c (2,000 × 100)

Dr.

 

2,00,000

 

 

  To 6% Debentures A/c

 

 

 

2,00,000

 

( Debentures issued to promoters)

 

 

 

 

  Is there an error in this question or solution?
Advertisement Remove all ads

APPEARS IN

TS Grewal Class 12 Accountancy - Double Entry Book Keeping Volume 2
Chapter 2 Issue of Debentures
Exercise | Q 12 | Page 52
Advertisement Remove all ads
Advertisement Remove all ads
Share
Notifications

View all notifications


      Forgot password?
View in app×