Rama Ltd. purchased machinery worth 72,000. The company issued 12% Debentures of
₹100 each at a discount of 4% in satisfaction of the purchase price.
Answers
Answer:
Bank A/c
Dr.
50,000
To 9% Debenture Application A/c
50,000
(Debenture application money received for 2,000 debentures at Rs 25 each)
9% Debenture Application A/c
Dr.
50,000
To 9% Debenture A/c
50,000
(Debenture application money transferred to 9% Debentures A/c)
9% Debenture Allotment A/c
Dr.
50,000
To 9% Debentures A/c
50,000
(Debenture allotment money due on 2,000 Debentures at Rs 25 each)
Bank A/c
Dr.
50,000
To 9% Debenture Allotment A/c
50,000
(Debenture allotment money received)
9% Debenture First and Final Call A/c
Dr.
1,00,000
To 9% Debentures A/c
1,00,000
(Debenture first and final call money due on 2,000 debentures at Rs 50 each)
Bank A/c
Dr.
1,00,000
To 9% Debenture First and Final Call A/c
1,00,000