Solution of question no. 33 , page no . 8.57 from TS Grewals

 

Journal Entries
Sr. No.	Particulars		L.F.	Debit Rs	Credit Rs
a.	Bank A/c	Dr.		4,32,000
	------To Debenture Application and Allotment A/c				4,32,000
	(Being application money received on 4,000 9% debentures )
	Debenture Application and Allotment A/c	Dr.		4,32,000
	Loss on Issue of Debentures A/c	Dr.		40,000
	------To 9% Debenture A/c				4,00,000
	------To Securities Premium Reserve A/c				32,000
	------To Premium on Redemption of debentures A/c				40,000
	(Being 4,000 9% debenture issued at a premium of `8 and redeemable at premium of 10%)
b.	Bank A/c	Dr.		6,00,000
	------To Debenture Application and Allotment A/c				6,00,000
	(Being application money received on 6,000 9% debentures)
	Debenture Application and Allotment A/c	Dr.		6,00,000
	Loss On Issue of Debentures A/c	Dr.		60,00
	------To 9% Debenture A/c				6,00,000
	------To premium on Redemption of Debentures A/c				60,000
	(Being 6,000 9Þbenture issued at par and redeemable at premium of 10%)
c.	Bank A/c	Dr.		10,50,000
	------To Debenture Application and Allotment A/c				10,50,000
	(Being application money received on 10,000 9% debentures)
	Debenture Application and Allotment  A/c	Dr.		10,50,000
	------To 9% Debenture A/c				10,00,000
	------To Securities Premium Reserve A/c				50,000
	(Being 1,000 9% debentures issued at a premium of `5)