question_answer

Brothers Ltd issued 5,000, 10% debentures of Rs. 100 each. Fill in the missing figures for the issue of debentures. JOURNAL

Date	Particulars		LF	Amt (Dr)	Amt (Cr)
(i)	.........	Dr		5,00,000
	To Debentures Application and Allotment A/c				5,00,000
	(Being application money received)
	.....	Dr		5,00,000
	.....	Dr		50,000
	To 10% Debentures A/c				5,00,000
	To Premium on Redemption of Debentures A/c				50,000
	(Being transfer of application money to 10% debentures account issued at par and redeemable at premium)
(ii)	Bank A/c	Dr		....
	To .....A/c				....
	(Being application money received)
	.....	Dr		....
	.....	Dr		....
	To 10% Debentures A/c				5,00,000
	To Securities Premium Reserve A/c				50,000
	To Premium on Redemption of Debentures A/c				50,000
	(Being transfer of application money to 10% debentures account issued at premium and redeemable at premium)

 

Answer:

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