Q. 3 DK Goel Issue of Debentures Solutions Class 12 CBSE (2024-25)

Here are the solution of question number 3 of Issue of debentures chapter 7 of DK Goel Class 12 CBSE (2024-25).

Kamal Ltd. issued 5,000, 12% Debentures of ₹ 100 each, payable as follows:

₹ 10 on application, ₹ 15 on allotment, ₹ 30 on first call and ₹ 45 on second and final call. A person who holds 400 debentures paid the amount of first and second calls with allotment. Another person who is holding 100 debentures failed to pay the amount due on allotment. He, however, pays this amount alongwith the first call money. Pass entries.

[Ans. Cash at Bank ₹ 5,00,000.]

Solution:-