Y.Ltd. Issued 2,000, 6% Debentures of Rs 100 each Payable as Follows: Rs 25 on Application; Rs 50 on Allotment and Rs 25 on First and Final Call-ACCOUNTANCY

Y.Ltd. issued 2,000, 6% Debentures of Rs 100 each payable as follows: Rs 25 on application; Rs 50 on allotment and Rs 25 on First and Final call.

Books of Y.Ltd.

Journal

Date	Particulars		L.F	Amount (Dr.)	Amount (Cr.)
	Bank A/c
	To 6% Debenture Application A/c	Dr.		50,000
	( Being application money received for 2,000, 6% debenture @Rs 25 each )				50,000
	6% Debenture Application A/c	Dr.		50,000
	To 6% Debenture A/c				50,000
	( Being Application money transferred to 6% Debenture A/c )
	6% Debenture Allotment A/c	Dr.		1,00,000
	To 6% Debenture A/c				1,00,000
	( Being 6% debenture Allotment money due on 20,000, 6% debentures )
	Bank A/c	Dr.		1,00,000
	To 6% Debenture A/c				1,00,000
	( Being allotment money received for 2,000, 6% debenture @Rs 50 each )
	6% Debenture First and final Call A/c	Dr.		50,000
	To 6% Debenture A/c				50,000
	( Being 6% debenture First and final Call money due on 20,000, 6% debentures @ Rs 50 each )
	Bank A/c	Dr.		50,000
	6% Debenture First and final Call A/c				50,000
	( Being 6% Debenture First and final Call money received for 2,000, 6% debenture @Rs 25 each )

Chapter-2 Issue and Redemption of Debentures-II

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