The Total solution for NCERT class 6-12
Books of R.Ltd.
Journal
Date
Particulars
L.F.
Debit
Amount
₹
Credit
Bank A/c
Dr.
37,20,00,000
To 10% Debenture Application & Allotment A/c
(Debenture Application and Allotment money received
for 20,00,000 10% Debentures @ ₹ 200 each)
10% Debenture Application and Allotment A/c
Loss on Issue of Debenture A/c
3,20,00,000
Discount on Issue of Debentures A/c
2,80,00,000
To 10% Debenture A/c
40,00,00,000
To Premium on Redemption of Debentures A/c
(Allotment of 20,00,000 debenture @ ₹ 200 each at 7%
discount with the term of 8% premium on redemption)