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Accountancy XII Part B-by Subhash Dey, Accountancy XII Part B-by Subh, 7.20, Joarnal, Dr., De, Date, LE., Amount ), 5,70,000, Ce, Am, Soltion, Particulars, Dr., Dae, 2015, Jun, To 1 De Application and Allotment A/c, Thiing m ed of deben), Dbennue Aeplication and Alloment Ale, La on le of Debenture Ale, To bennures Ale, To Premium on Redemption of Dbentures Alc, thing de alld isor, tesleemahle at 7 prmim), 2019 k AW, Apil, Dr., Di, 5.70,000, 72,000, 6.00, 42, Dr., 50.000, 22,000, 20 Secumies remium Reserne /, 31 Ma Sement of Pofit and Loss, Dr, 72.0, Ta Len on loue of Debentures Alc, Thing di l n ae of debentures written-off), Loss on Issue of Debentures Account, Ameont, Particulars, Amount () Date, By Securities Premium, Reserve Alc, Particulars, Date, 2019, April 1, 50,000, To 12% Debentures Ale, To Premium on Redemption, of Debennures A/c, 30,000, 42,000, 2020, Mar 31, In, By Staternent of Profit and Los, 22.000, 72.000, 72,000, Do it yourself 7.13, A Lid. issued 50.00.000. 8% debentures of 100 at a discount of 6% on April 01, 2019, redeemable at premi, of 4% after 4 years. Pasa necessary journal entries for issue of debentures and writing off loss on issue of deben, during the year 2019-20. Also prepare loss on issue of debenture account., Illustration 7.14 On 1.4.2019 Fast Computers Ltd. issued 20,000, 6% debentures of R100 cach at a diser, of 4%, redeemable at a premium of 5% after three years. The amount was payable as follows:, On application 50 per debenture and balance on allotment (after two months), On that date, balance of securities premium reserve stood at 50,000., Record the necessary journal entries for issue of debentures. Also, prepare loss on issue of debentures accoute, Solution:, Journal, Date, Particulars, Dr., Cr., LE., Amount R), 2019, Amount ), Bank A/c, 1 April, 10,00,000, Dr., To 6% Debenture Application A/c, (Money received on application on 20,000 6% debentures 50), 1 June 6% Debenture Application Alc, To 6% Debenture Alc, Application money tt to Debenture A/c), G% Debenture Allotment Ale, Loss on Issue of Debenture A/c, To 6% Debentures Alc, To Premium on Redemption of Debenture Alc, 2n.000 % debentures alloted at 4N discount redeemable at 5% premium,, EV. being P100), Bank Alc, To 6% Debentures Allotment A/c, (Money received on allotment), 10,00,000, Dr., 10,00,000, 10,00,000, Dr., 9,20,000, 1.80,000, Dr., 10,00,000, 1,00,000, Dr., 9,20,000, 9,20,000, 2021/12/26 21:37