Question

Rajashree Co. issued 2,00,000,11% debenture of Rs.100 each payable as Rs.20 on application, Rs.30 on allotment,Rs.25 on first call and balance on final call.All the money was received when due.Pass necessary journal entries.​

Answer 1

Answer:

Bank A/c dr. 400000

To 11% Deb. Application A/c. 400000

11% Deb. Application A/c. dr. 400000

To 11% Deb Ac 400000

11% Deb Allotment Ac dr. 600000

To 11% Deb Ac. 600000

Bank ac dr. 600000

To 11% Deb Allotment Ac. 600000

11% Deb. First Call ac dr. 500000

To 11% Deb. Ac. 500000

Bank Ac dr. 500000

To 11% Deb. First Call ac. 500000

11% Deb Final Call Ac. dr. 500000

To 11% Deb. Ac. 500000

Bank Ac dr. 500000

To 11% Deb Final Call Ac. 500000