A.Ltd. issued 10,000, 10% Debentures of Rs 100 each at a premium of 5% payable

A.Ltd. issued 10,000, 10% Debentures of Rs 100 each at a premium of 5% payable as follows:

Rs 10 on Application; Rs 20 along with premium on allotment and balance on First and Final call. Record necessary Journal Entries.

Books pf A.Ltd.

Journal

Date	Particulars		L.F	Amount (Dr.)	Amount  (Cr.)
	Bank A/c			1,00,000
	To 10% Debenture Application A/c				1,00,000
	( Being application money received for 10,000, 10% debenture @Rs 10 each )
	10% Debenture Application A/c			1,00,000
	To 6% Debenture A/c				1,00,000
	( Being Application money transferred to 10% Debenture A/c )
	10% Debenture Allotment A/c			2,50,000
	To Securities Premium A/c				50,000
	To 10% Debenture A/c				2,00,000
	( Being 10% debenture Allotment money due on 10,000, 10% debentures )
	Bank A/c			2,50,000
	To 10% Debenture A/c				2,50,000
	( Being allotment money received for 2,000, 6% debenture )
	10% Debenture First and final Call A/c			70,000
	To 10% Debenture A/c				70,000
	( Being 10% debenture First and final Call money due on 10,000, 10% debentures @ Rs 70 each )
	Bank A/c			70,000
	6% Debenture First and final Call A/c				70,000
	( Being 6% Debenture First and final Call money received for 10,000, 10% debenture @Rs 70 each )

Chapter-2 Issue and Redemption of Debentures-II

1 2 3 4 5