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प्रश्न
Care Cosmetics Ltd. issued 50,000; 9% Debentures of ₹ 10 each on 1st April, 2026 redeemable at a premium of 10% after 10 years. According to the terms of issue, ₹ 4 is payable on application and balance on allotment of debentures. Record necessary Journal entries regarding issue of debentures.
रोजनामा प्रविष्टि
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उत्तर
| Journal Entries in the Books of Care Cosmetics Ltd. |
||||
|---|---|---|---|---|
| Date | Particulars | L.F. | Debit (₹) | Credit (₹) |
| 1 April 2026 | Bank A/c ...Dr. | 2,00,000 | ||
| To Debentures Application A/c | 2,00,000 | |||
| (Being application money received on 50,000, 9% Debentures @ ₹ 4 each) | ||||
| Debentures Application A/c ...Dr. | 2,00,000 | |||
| To 9% Debentures A/c | 2,00,000 | |||
| (Being application money transferred to 9% Debentures A/c) | ||||
| Debentures Allotment A/c ...Dr. | 3,00,000 | |||
| Loss on Issue of Debentures A/c ...Dr. | 50,000 | |||
| To 9% Debentures A/c | 3,00,000 | |||
| To Premium on Redemption of Debentures A/c | 50,000 | |||
| (Being allotment money due and premium on redemption recorded) | ||||
| Bank A/c ...Dr. | 3,00,000 | |||
| To Debentures Allotment A/c | 3,00,000 | |||
| (Being allotment money received) | ||||
Working Note:
Face Value of Debentures:
50,000 × ₹ 10 = ₹ 5,00,000
Application Money:
50,000 × ₹ 4 = ₹ 2,00,000
Allotment Money:
50,000 × ₹ 6 = ₹ 3,00,000
Premium on Redemption:
₹ 5,00,000 × 10% = ₹ 50,000
Loss on Issue of Debentures: ₹ 50,000
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