A Limited issued 5000, 10% debentures of र100 each, at a premium of र10 per debenture payable as follows:
On application र25
On allotment र45 (including premium)
On the first and final call र40.
The debentures were fully subscribed and all money was duly received.

What will be the journal entry for the premium and allotment money due at the time of allotment?

10% Debenture Allotment A/c Dr.          र2,25,000
       To 10% Debentures A/c                               र1,75,000
       To Securities Premium Reserve A/c               र50,000

The correct answer is option 3-
10% Debenture Allotment A/c Dr.          र2,25,000
       To 10% Debentures A/c                               र1,75,000
       To Securities Premium Reserve A/c               र50,000

Allotment is र45 including premium
Premium is र10

Total Allotment amount to be received = 5,000 X 45
                                                        = र2,25,000

Premium amount = 5,000 X 10
                         = र50,000

Debentures Amount = 2,25,000 - 50,000
                              = र1,75,000

Journal entry for the due payment of allotment is as follows-
10% Debenture Allotment A/c Dr.          र2,25,000
       To 10% Debentures A/c                               र1,75,000
       To Securities Premium Reserve A/c               र50,000
(Money due on 5,000 debentures on allotment at premium)