Question

be that
ond
B Limited issued 4,000, debentures of 100 each at a premium of 5% payable :
under-
On application 15 per debenture.
On allotment * 25 per debenture (including premium)
On first call 30 per debenture
On Second call 20
per
debenture
On final call the remaining amount.
All the moneys were duly
received, Draw up necessary journal entries in the book
the company. 1688
(Ans. Cash Received $4,20,00​

Answer 1

Answer:

Bank account. dr 60000

To debenture application 60000

Debenture application a/c dr 60000

To Debenture. 60000

Debenture allotment a/c. dr 100000

To Debenture. 80000

To security premium reserve 20000

Bank account. dr. 100000

To debenture allotment. 100000

Debenture first call. dr 120000

To Debenture. 120000

Bank account. dr 120000

To debenture Ist call 120000

Debenture second call dr 80000

To Debenture. 80000

Bank a/c. dr 80000

To debenture second call 80000

Debenture final call dr 60000

To Debenture. 60000

Bank account. dr. 60000

To debenture final call. 60000