Maharashtra State BoardHSC Commerce 12th Board Exam
Advertisement Remove all ads

Give Journal Entries in the Books of Amar Ltd. - Book Keeping and Accountancy

Journal Entry

Amar Ltd. issued 10,000 12% Debentures of Rs 100 each payable Rs 30 on application and remaining amount on allotment. The public applied for Rs 9,000 debentures which were fully allotted and on the relevant allotment money duly received. Give journal entries in the books of Amar Ltd.

Advertisement Remove all ads

Solution

                                            Book of Aman Ltd.
                                               Journal Entry

Date Particulars L.F. Debit Amount (Rs.) Credit Amount (Rs.)
  Bank A/c                                 Dr.
   To Debenture Application A/c
(Debenture application received on 9,000, 12% Debentures of Rs 30 each)
  270,000 270,000
  Debenture Application A/c     Dr.
       To 12% Debentures A/c
(Debenture application money transferred to 12% Debenture A/c)
    
  270,000 270,000
 

Debenture Allotment A/c       Dr.
   To 12% Debentures A/c
(Debenture allotment due on 9,000 12% Debenture of Rs 70 each)

  630,000 630,000
 

Bank A/c                                 Dr.
    To Debenture Allotment A/c
(Debenture allotment money received)

  630,000 630,000
Concept: Meaning and Concept of Debentures
  Is there an error in this question or solution?
Advertisement Remove all ads

APPEARS IN

Micheal Vaz Accounts - Book Keeping and Accountancy HSC 12th Standard Maharashtra State Board
Chapter 11 Company Accounts Part - 2 (Accounting for Debentures)
Exercise | Q 1 | Page 373
Advertisement Remove all ads
Advertisement Remove all ads
Share
Notifications

View all notifications


      Forgot password?
View in app×