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प्रश्न
A Ltd . issued 2,000; 9% Debentures of ₹ 100 each on the following terms:
₹20 on applications ;₹ 20 on allotment ; ₹ 30 on first call ; ₹ 30 on final call.
The public applied for 2,400 debentures. Applications for 1,800 debentures were accepted in full. Applications for 400 debentures were allotted 200 debentures and applications for 200 debentures were rejected . Pass necessary Journal entries .
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उत्तर
Books of A Ltd.
Journal
|
Date |
Particular |
L.F. |
Debit Amount Rs |
Credit Amount Rs |
|
|
|
Bank A/c |
Dr. |
|
48,000 |
|
|
|
To 9% Debenture Application A/c |
|
|
48,000 |
|
|
|
(Debenture application money received for 2,400 debentures at Rs 20 each) |
|
|
|
|
|
|
|
|
|
|
|
|
|
9% Debenture Application A/c |
Dr. |
|
48,000 |
|
|
|
To 9% Debentures A/c |
|
|
40,000 |
|
|
|
To 9% Debentures Allotment A/c |
|
|
4,000 |
|
|
|
To Bank A/c |
|
|
4,000 |
|
|
|
(Debenture application money transferred to 9% Debenture account for 2,000 Debenture, adjusted to Debenture Allotment account for 200 Debentures and money refunded for 200 debentures) |
|
|
|
|
|
|
|
|
|
|
|
|
|
9% Debenture Allotment A/c |
Dr. |
|
40,000 |
|
|
|
To 9% Debentures A/c |
|
|
40,000 |
|
|
|
(Debenture allotment money due on 2,000 debentures at Rs 20 each) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Bank A/c |
Dr. |
|
36,000 |
|
|
|
To 9% Debentures Allotment A/c |
|
|
36,000 |
|
|
|
(Debenture allotment money received) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Debenture First Call A/c |
Dr. |
|
60,000 |
|
|
|
To 9% Debentures A/c |
|
|
60,000 |
|
|
|
(Debenture first call money due on 2,000 9% debenture at Rs 30 each) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Bank A/c |
Dr. |
|
60,000 |
|
|
|
To Debenture First Call A/c |
|
|
60,000 |
|
|
|
(Debenture first call money received) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Debenture Final Call A/c |
Dr. |
|
60,000 |
|
|
|
To 9% Debentures A/c |
|
|
60,000 |
|
|
|
(Debentures final call money due on 2,000 9% Debentures at Rs 30 each) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Bank A/c |
Dr. |
|
60,000 |
|
|
|
To Debenture Final Call A/c |
|
|
60,000 |
|
|
|
(Debenture final call received on 2,000 9% Debenture at Rs 30 each) |
|
|
|
|
संबंधित प्रश्न
Long Answer Question
Explain the different terms for the issue of debentures with reference to their redemption.
Narain Laxmi Ltd. invited applications for issuing 7,500; 12% Debentures of ₹ 100 each at a premium of ₹ 35 per debenture. The issue price was payable on application. Issue was subscribed and allotment was made.
Pass necessary Journal entries for the above transactions in the books of Narain Laxmi Ltd.
X Ltd . issued 12,000; 8% Debentures of ₹ 100 each at a discount of 5% payable as 25% on application;20% on allotment and balance after three months.
Pass Journal entries.
The Amrit Ltd was promoted by Amrit and Bhaskar with an authorised capital of ₹ 10,00,000 divide into 1,00,000 shares of ₹ 10 each.
The company decided to issue 1,000 6% Debentures of ₹ 100 each to Amrit and Bhaskar, each for their services in incorporating the company.
Pass journal entry.
Deepak Ltd purchased furniture of ₹ 2,20,000 from M/s. Furniture Mart. 50% of the amount was paid to M/s. Furniture Mart by accepting a bill of exchange and for the balance, the company issued 9% debentures of ₹ 100 each at a premium of 10% in favor of M/s. Furniture Mart.
Pass Journal entries in the books of Deepak Ltd.
Bright Ltd. issued 5,000; 10% Debentures of ₹ 100 each on 1st April, 2015 . The issue was fully subscribed . According to the terms of issue, interest on the debentures is payable half-yearly on 30th September and 31st March and the tax deducted at source is 10%.
Pass necessary journal entries related to the debenture interest for the year ending 31st March , 2016 and transfer of interest on debentures of the year to the Statement of Profit and Loss .
A limited company issued ₹ 1,00,000, 9% Debentures at a discount of 6% on 1st April, 2017. These debentures are to be redeemed equally, spread over 5 annual instalments.
Pass the Journal entries for issue of debentures and writing off the discount.
Office Products Ltd, issued on 1st April, 2018, 20,000, 9% Debentures of ₹ 100 each at a premium of 10% redeemable at a premium of 5% after 5 years. Issue price was payable along with application. Pass the necessary Journal entries.
Debentures which are transferable by mere delivery are ______.
When debentures are issued at a discount and are redeemable at a premium, which of the following accounts is debited at the time of issue?
Which of the following given statement is correct.
Statement 1 - "Shares cannot be converted into debentures whereas debentures can be converted into shares"
Statement 2 - "Shares can be converted into debentures whereas debentures cannot be converted into shares"
Rehana, Shakina and Jasmine are partners. They share When debentures are issued as collateral security, the final entry for recording the transaction in the books is ______.
Discount on issue of debentures is a ______
Interest on debentures is calculated on ______.
Maximum limit on premium on issue of debentures is ______.
Debenture is ______.
Premium received on issue of debentures may be utilised for:
X Ltd. had outstanding 20,000 12% debentures of Rs. 100 each redeemable on June 30, 2019. Record necessary journal entries at the time of redemption.
