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प्रश्न
Record necessary journal entries in the following case:
20,000, 7% debentures of Rs. 100 each issued at 5% discount and redeemable at par.
रोजनामा प्रविष्टि
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उत्तर
| Journal Entries | ||||
| Date | Particulars | L.F. | Debit (₹) | Credit (₹) |
| 1. | Bank A/c ...Dr. | 19,00,000 | - | |
| To Debenture Application & Allotment A/c | - | 19,00,000 | ||
| (Being application money received at a 5% discount) | ||||
| 2. | Debenture Application & Allotment A/c ...Dr. | 19,00,000 | - | |
| Discount on Issue of Debentures A/c ...Dr. | 1,00,000 | - | ||
| To 7% Debentures A/c | - | 20,00,000 | ||
| (Being debentures issued with a redemption premium liability) | ||||
Working Note:
Total Face Value = 20,000 × 100
= 20,00,000
Discount on Issue = `20,00,000 xx 5/100`
= 1,00,000
Bank Amount = 20,00,000 − 1,00,000
= 19,00,000
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