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Give Journal Entries in the Books of Amar Ltd. - Book Keeping and Accountancy

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प्रश्न

Amar Ltd. issued 10,000 12% Debentures of Rs 100 each payable Rs 30 on application and remaining amount on allotment. The public applied for Rs 9,000 debentures which were fully allotted and on the relevant allotment money duly received. Give journal entries in the books of Amar Ltd.

रोजनामा प्रविष्टि
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उत्तर

                                            Book of Aman Ltd.
                                               Journal Entry

Date Particulars L.F. Debit Amount (Rs.) Credit Amount (Rs.)
  Bank A/c                                 Dr.
   To Debenture Application A/c
(Debenture application received on 9,000, 12% Debentures of Rs 30 each)
  270,000 270,000
  Debenture Application A/c     Dr.
       To 12% Debentures A/c
(Debenture application money transferred to 12% Debenture A/c)
    
  270,000 270,000
 

Debenture Allotment A/c       Dr.
   To 12% Debentures A/c
(Debenture allotment due on 9,000 12% Debenture of Rs 70 each)

  630,000 630,000
 

Bank A/c                                 Dr.
    To Debenture Allotment A/c
(Debenture allotment money received)

  630,000 630,000
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अध्याय 11: Company Accounts Part - 2 (Accounting for Debentures) - Exercise 5 [पृष्ठ ३७३]

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मायकल वाझ Book Keeping and Accountancy [English] 12 Standard HSC Maharashtra State Board
अध्याय 11 Company Accounts Part - 2 (Accounting for Debentures)
Exercise 5 | Q 1 | पृष्ठ ३७३

वीडियो ट्यूटोरियलVIEW ALL [1]

संबंधित प्रश्न

The debenture holder is owner of the company.


On 1st April 2014, KK Ltd. invited applications for issuing 5,000 10% debentures of Rs 1,000 each at a discount of 6%. These debentures were repayable at the end of the 3rd year at a premium of 10%. Applications for 6,000 debentures were received and the debentures were allotted on pro-rata basis to all the applicants. Excess money received with applications was refunded.

The directors decided to transfer the minimum amount to Debenture Redemption Reserve on 31.3.2016. On 1.4.2016, the company invested the necessary amount in 9% bank fixed deposit as per the provisions of the Companies Act 2013. A tax was deducted at source by bank on interest @10% p.a.

Pass the necessary journal entries for issue and redemption of debentures. Ignore entries relating to writing off a loss on issue of debentures and interest paid on debentures.


Give any one advantage for the redemption of debentures by purchase in the open market?


Pass the necessary Journal entry when 10,000 debentures of Rs 100 each are issued as collateral security against a Bank loan of Rs 8,00,000


_______ is an acknowledgement of debt under common seal of a company.


Answer in a sentence only.
What do you mean by Bearer Debenture?


Answer in a sentence only.
What is a ‘Convertible Debenture’?


Answer in a sentence only.
What is meant by ‘Mortgaged Debenture’?


Answer in a sentence only.
What is meant by redemption of Debentures?


Write one word/term/phrase which can substitute the following
The debentures where no charge is created on the assets of company.


Write one word/term/phrase which can substitute the following
The debentures of which payment is made on the expiry of specific period.


Write one word/term/phrase which can substitute the following
The debentures which are transferred by way of delivery.


Select most appropriate alternative from those given below
__________ is acknowledgment of debt under common seal of company.


Select most appropriate alternative from those given below :
The debentures which are converted into shares is called____________.


State to whether the following statement is True/False.
The debenture holder is owner of the company.


State to whether the following statement is True/False.
The acknowledgement of debt under common seal of company in termed as share.


State to whether the following statement is True/False.
The amount of irredeemable debentures is not paid in the life time of the company.


State to whether the following statement is True/False.
The unregistered debentures are known as naked debentures.


Give the word / term or phrase which can substitute the following statement.

The debentures which are converted into shares.


Mahakali Co. Ltd. Chandrapur issued 1,000, 12% debentures of  Rs.100 each, payable Rs. 20 on application and the balance on allotment. Applications were received for 1,500 debentures, out of which, applications for 900 were allotted fully, applications for 400 were allotted 100 debentures and remaining were rejected. All dues received.
Journalise the transactions and also show Balance Sheet.

Explain any four types of debentures through which a public limited company can collect its borrowed capital from the public.


State any four disadvantages of debentures. 


Anthony Ltd. issued 20,000, 9% Debentures of ₹ 100 each at 10% discount to Mithoo Ltd. from whom Assets of ₹ 23,50,000 and Liabilities of ₹ 6,00,000 were taken over. Pass entries in the books of Anthony Ltd. if these debentures were to be redeemed at 5% premium.


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