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A company issued 3000 5% Debentures of Rs100 each payable Rs.20 on application Rs.30on allotment and rest on first & final call.All the debenture money were recieved except on 500 debenture holders who did not pay allotment and first call money pass journal entries in the books of company.?
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A company issued 3000 5% Debentures of Rs100 each payable Rs.20 on app...
Call. The debentures were fully subscribed and all money was duly received. Prepare the necessary journal entries for the issue of debentures.

On Application:

Bank A/c Dr. 20,000
To Debenture Application A/c 20,000

(Being application money received for 3000 5% Debentures of Rs.100 each)

On Allotment:

Debenture Application A/c Dr. 30,000
To Debenture Allotment A/c 30,000

(Being allotment money received for 3000 5% Debentures of Rs.100 each)

On First Call:

Debenture Allotment A/c Dr. 50,000
To Debenture First Call A/c 50,000

(Being first call money received for 3000 5% Debentures of Rs.100 each)

Note: The balance amount of Rs.50 (Rs.100 - Rs.20 - Rs.30) per debenture will be called up in subsequent calls.
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A company issued 3000 5% Debentures of Rs100 each payable Rs.20 on app...
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A company issued 3000 5% Debentures of Rs100 each payable Rs.20 on application Rs.30on allotment and rest on first & final call.All the debenture money were recieved except on 500 debenture holders who did not pay allotment and first call money pass journal entries in the books of company.?
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A company issued 3000 5% Debentures of Rs100 each payable Rs.20 on application Rs.30on allotment and rest on first & final call.All the debenture money were recieved except on 500 debenture holders who did not pay allotment and first call money pass journal entries in the books of company.? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about A company issued 3000 5% Debentures of Rs100 each payable Rs.20 on application Rs.30on allotment and rest on first & final call.All the debenture money were recieved except on 500 debenture holders who did not pay allotment and first call money pass journal entries in the books of company.? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A company issued 3000 5% Debentures of Rs100 each payable Rs.20 on application Rs.30on allotment and rest on first & final call.All the debenture money were recieved except on 500 debenture holders who did not pay allotment and first call money pass journal entries in the books of company.?.
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