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Jyoti Ltd invited an application for …

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Jyoti Ltd invited an application for issuing 2000,12% debentures of Rs.100 each at a discount of Rs.5%. Application for 2400 debentures were received. Pro-rata allotment was made to all the applicants. Pass the necessary journal entry for the issue of debentures assuming that the whole amount was payable with applications

Posted by Harsh Kumar 6 years, 9 months ago

CBSE > Class 12 > Accountancy

2 answers

Hero Time 6 years, 9 months ago

No ........... Discount will be of 10000 and to bankac 38000

Ashish Kumar 6 years, 9 months ago

Bank A/c Dr 228000 To debenture application and allotment a/c 228000 Debenture application and allotment a/c Dr 228000 Discount on issue of debenture 12000 To 12% debenture a/c 200000 To bank a/c. 40000

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