DK Goel Solutions ISC Q 3 Chapter 7 Company Accounts-Issue of Debentures Class 12 ISC [2023-24]
Step-by-step solution of Question 3, Chapter 7 Company Accounts – Issue of Debentures, DK Goel Class 12 Accountancy 2023-24 for the ISC Board.
Question 3
R Ltd. issued 8,000, 13% Debentures of ₹ 100 each at a discount of 5% payable as follows :
- On Application ₹ 25
- On Allotment ₹ 25
- On First and Final Call The balance amount
Public applied for 6,000 debentures. All the moneys were duly received. Expenses on issue of debentures amounted to ₹ 20,000.
Pass journal entries and show the above accounts in the Company’s Balance Sheet at the end of the first year. Company decided to write off the discount on issue of debentures in the first year itself.
Solution
All questions of Chapter 7
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About this solution
This is Chapter 7 Company Accounts-Issue of Debentures of DK Goel For 2024 Examinations.
Written by Vijay Adarsh, teaching commerce since 2003 to Class 11, Class 12, B.Com, CA, CS and CMA students.
We have solved all the practical questions in this book and explained them Step by Step in detail with clear working notes.
Also, we have followed the proper format and workings which are required as per ISC Guidelines. Just follow our presentation of solutions and score good marks in the Accountancy Board Exam.
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