Mahesh enterprises Ltd. issues 1000,10% debentures of ₹100 each payable as₹40 on application, ₹30 on allotment and the balance on a call. assuming that the calls were made and money due thereon realised,show the journal entries.
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Answer:
1 bank a/c Dr 40000 To 10%debenture application a/c 40000
Explanation:
2 10%deb.app. a/c Dr 40000 To 10% Deb. 40000
3 10% deb.allot. a/c Dr 30000 To 10%Deb.30000. 4 bank a/c Dr 30000 To 10% deb.allot. 30000. 5 10% Deb.final call a/c Dr 30000. To 10%Deb. a/c 30000 6 bank a/c Dr 30000 To 10% Deb. final call a/c 30000
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