Question

Samta Ltd.. Issued 4000,9%debentures of ₹100each payable ₹10on aaplication ₹30on allotment and ₹60per debenture on call. Assuming that all the moneys were recived, draw up necessary journal entires in the books of the company.

Answer 1

Answer :-

1. Bank a/c dr 40000

To Debenture Application a/c 40000

2. Debenture Application a/c 40000

___To 9% Debenture a/c 40000

3. Debenture Allotment a/c 120000

___To 9% Debenture a/c 120000

4. Bank a/c dr 120000

To Debenture Allotment a/c 120000

5. Debenture Call a/c 240000

___To 9% Debenture a/c 240000

6. Bank a/c dr 240000

To Debenture Allotment a/c 240000

hope it helps..