Question

made.
B Limited issued 4,000, debentures of 100 each at a premium of 5% payable as
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 books of
(Ans. Cash Received 4,20,000)
Conremium
the company.
16:8​

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