The Total solution for NCERT class 6-12
Answer - 31 : -
Book of G. Ltd.
Journal
Date
Particulars
L.F.
Debit
Amount
₹
Credit
Bank A/c
Dr.
11,25,00,000
To 6% Debenture Application A/c
(Application money @ ₹ 15 each received for 75,00,000 debentures)
6% Debenture Application A/c
To 6% Debenture A/c
(Application money of 75,00,000 debentures transferred to 6% Debentures Account)
6% Debenture Allotment A/c
26,25,00,000
(Allotment money @ ₹ 35 each due for 75,00,000 debentures )
To 6% Debenture Allotment A/c
(Allotment money received @ ₹ 35 each on 75,00,000 debentures)
Answer - 32 : -
Books of Y Ltd.
50,000
To 6% Debentures Application A/c
(Application money @ ₹ 25 each received for 2,000
6% Debentures)
(Application money on 2,000 debentures transferred to
6% Debentures Account)
1,00,000
(Debenture Allotment money @ ₹ 50 each due on 2,000
(Allotment money for 2,000 6% Debentures received)
6% Debenture First and Final Call A/c
(Debenture First and Final Call @ 25 each due on 2,000
To 6% Debenture First and Final Call A/c
(First and Final Call for 2,000 6% Debentures received)
Answer - 33 : -
Books of A. Ltd.
To 10% Debentures Application A/c
(Application money received for 10,000, 10% Debenture Application @ ₹ 10 each)
10% Debentures Application A/c
To 10% Debenture A/c
(Application money @ ₹ 10 each transferred to
10% Debenture Account)
10% Debenture Allotment A/c
2,50,000
To 10% Debentures A/c
2,00,000
To Securities Premium A/c
(Allotment due @ ₹ 25 each including premium ₹ 5 on
10,000, 10% Debentures)
To 10% Debenture Allotment A/c
(Allotment money received on allotment @ ₹ 25 each for
10,000 10% Debentures)
10% Debenture First and Final Call A/c
7,00,000
(First and Final Call @ ₹ 70 each on 10,000
10% Debentures due)
To 10% Debenture First and Final Call A/c
(Debenture First and Final Call received @ ₹ 70 each for
Answer - 34 : -
41,40,00,000
Discount on Issue of Debenture A/c
3,60,00,000
To 9% Debenture A/c
45,00,00,000
(Money received for 90,00,000 9% Debentures
@ ₹ 50 each at discount of 8%)
Alternative Method:
To 9% Debentures Application A/c
(Debenture Application money received @ ₹ 46 each
on 90,00,000 9% Debentures)
9% Debentures Application A/c
Discount on issue of Debentures A/c
4,50,00,000
(9% Debentures application money transferred to
9% Debenture Account)
Answer - 35 : -
Books of A Ltd.
96,000
To 9% Debenture Application A/c
(9% Debenture Application money received on 4,800 Debentures
@ 20 each)
9% Debenture Application A/c
80,000
To 9% Debenture Allotment A/c
8,000
To Bank A/c
(9% Debenture Application money of 4000 debentures transferred to
Debentures Account, 400 debentures rejected returned and
remaining amount adjusted on allotment)
9% Debenture Allotment A/c
(9% Debenture Allotment due on 4,000 Debentures @ ₹ 20 each)
72,000
(9% Debenture Allotment money received)
9% Debenture First Call A/c
1,20,000
(9% Debenture First Call due on 4000 debentures @ ₹ 30 each)
To Debenture First Call A/c
(9% Debenture first call received for 4000 debentures
@ ₹ 30 each)
9% Debenture Final Call A/c
(9% Debenture Final Call due on 4000 debentures
@ ₹ 30 each )
To 9% Debenture Final Call A/c
(9% Debenture Final Call received on 4000 debentures
Answer - 36 : -
(₹)
debentures @ ₹200 each)
₹200 each including ₹50 premium transferred to Debenture Account and rest of the amount adjusted on allotment)
₹350 due)
Answer - 37 : -
Books of X. Ltd.
2,70,000
To 14% Debenture Application A/c
(14% Debenture application money for 13,500 debentures
@ 20 each received)
14% Debenture Application A/c
To 14% Debenture A/c
To 14% Debenture Allotment A/c
60,000
To Bank
10,000
(14% Debenture Application money of 10,000 @ ₹ 20 each
transferred to 14% Debentures Account and 500 debentures
were rejected and returned and rest of the amount adjusted
on allotment)
14% Debenture Allotment A/c
6,00,000
(14% Debenture Allotment money due on 10,000 debentures @
₹ 60 each)
5,40,000
(14% Debenture Allotment money received)
14% Debenture First and Final Call A/c
(14% Debenture First and Final Call money due on 10,000
debentures @ 20 each)
To 14% Debenture First and Final Call A/c
(14% Debenture First and Final Call money received on 10,000
debentures @ ₹ 20 each)
Answer - 38 : -
Books of R.Ltd.
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
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)
Answer - 39 : -
Books of M. Ltd.
Sundry Assets
9,00,00,000
To Sundry Liabilities A/c
70,00,000
To S.Ltd.
8,30,00,000
(Assets and liabilities of S. Ltd. taken over)
S. Ltd.
To 8% Debenture A/c
(8,30,000 8% debentures @ 100 each issued to S Ltd. in
consideration of assets and liabilities)
Answer - 40 : -
Case(a)
Book of B. Ltd.
Sundry Assets A/c
4,00,000
Goodwill A/c
30,000
To Mohan Bros.
3,80,000
(Assets and liabilities of Mohan Bros. taken over)
Mohan Bros.
To Debenture A/c
(3,800 debentures of 100 each issued to Mohan Bros. in
Case(b)
42,222
4,22,200
22
(Issued 4,222 debentures of ₹ 100 each at 10% discount
and balance paid in cash)
Case(c)
Mohan Bros
To Debentures A/c
3,45,400
34,540
60
(Issued of 3,454 debentures at 10% premium and balance
paid in cash)