G.Ltd. Issued 75,00,000, 6% Debenture Of Rs 50 Each At Par Payable Rs 15 On Application and Rs 35 on Allotment-ACCOUNTANCY

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G.Ltd. issued 75,00,000, 6% Debenture of Rs 50 each at par payable Rs 15 on application and Rs 35 on allotment, redeemable at par after 7 years from the date of issue of debenture. Record necessary entries in the books of Company.




Books of G.Ltd.

Journal


DateParticularsL.F
Amount
(Dr.)
Amount
(Cr.)
Bank A/cDr.11,25,00,000
To 6% Debenture Application A/c11,25,00,000
( Being Application Money received for 75,00,000 Shares @ Rs 15 each )
6% Debenture Application A/cDr.11,25,00,000
 To 6% Debenture A/c11,25,00,000
( Being Debenture application money transferred to debenture Capital A/c )
6% Debenture Allotment A/cDr.26,25,00,000
 To 6% Debenture A/c26,25,00,000
( Allotment money due on 75,00,000 Shares @ Rs 35 each )
Bank A/cDr.26,25,00,000
 To 6% Debenture Allotment A/c26,25,00,000
( Being Allotment money received for 75,00,000 Shares @ Rs 35 each )

Chapter-2 Issue and Redemption of Debentures-II



Location: India

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