6 marks 14. Date Particulars LF Debit Credit (a) (Rs.) (Rs.) BankA/c Dr. 5,00,000 To9%Debenture 1mark ApplicationandAllotmentA/c 5,00,000 (BeingDebentureapplicationmoneyreceived) 9%DebentureApplicationand 5,00,000 2 marks AllotmentA/cDr.LossonissueofDebenturesA/c Dr. 50,000 To9% DebentureA/c 5,00,000, = 1+2 ToPremiumonredemption of = DebenturesA/c(Beingissueofdebenturesatpar, 50,000 3 marks redeemableataapremium) (b) OwndebenturesA/c Dr. 5,70,000 ToBank A/c 570,000 1 mark 8%Debenturesa/c Dr. 6,00,000 1 mark ToOwnDebenturesA/c 5,70,000 ToGainonCancellation 30,000 ofDebenturesA/c(Beingdebenturescancelled) 30,000 GainonCancellationof Debentures A/c Dr. ½ mark ToCapitalReserve 30,000 (BeingthegaintransferredtoCapitalReserve) DebentureRedemptionReserveA/c Dr. 3,00,000 3,00,000 ½ mark ToGeneralReserve = 1+1+½ + ½ =3 marks
6 marks 14. Date Particulars LF Debit Credit 1mark (a) (Rs.) (Rs.) (b) BankA/c Dr. To9%Debenture ApplicationandAllotmentA/c (BeingDebentureapplicationmoneyreceived) 5,00,000 5,00,000 9%DebentureApplicationand AllotmentA/cDr.LossonissueofDebenturesA/c Dr. To9% DebentureA/c ToPremiumonredemption of DebenturesA/c(Beingissueofdebenturesatpar, redeemableataapremium) 5,00,000 50,000 5,00,000, 50,000 2 marks = 1+2 = 3 marks OwndebenturesA/c Dr. ToBank A/c 5,70,000 570,000 1 mark 8%Debenturesa/c Dr. ToOwnDebenturesA/c ToGainonCancellation ofDebenturesA/c(Beingdebenturescancelled) 6,00,000 5,70,000 30,000 1 mark GainonCancellationof Debentures A/c Dr. ToCapitalReserve (BeingthegaintransferredtoCapitalReserve) 30,000 30,000 ½ mark DebentureRedemptionReserveA/c Dr. ToGeneralReserve 3,00,000 3,00,000 ½ mark = 1+1+½ + ½ =3 marks