Q. 5 DK Goel Issue of Debentures Solutions Class 12 CBSE (2024-25)
Here are the solution of question number 5 of Issue of debentures chapter 7 of DK Goel Class 12 CBSE (2024-25).
X Ltd. issued 5,000, 12% Debentures of ₹ 100 each at a premium of ₹ 5 payable as follows:
| On Application | ₹ 30 |
| On Allotment | ₹ 40 (including premium) |
| On 1st and Final Call | The balance amount |
Applications were received for 6,000 debentures and allotment was made pro-rata to all applicants. All the moneys were duly received. Pass necessary journal entries.
[Ans. Cash at Bank ₹ 5,25,000. Cash received on allotment ₹ 1,70,000 and on first call ₹ 1,75,000.]
Solution:-
