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प्रश्न
Joshi - Patil Ltd. issued 2,000, 10% debentures of Rs. 100 each, payable Rs. 20 on application and the balance on allotment. Company received applications for 2,500 debentures, out of which applications for 2,000 were alloted fully and remaining applications were rejected and the money refunded.
Journalise the above transactions, assuming that all the sums were received.
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उत्तर
Journal
| Date | Particulars | L.F. | DebitAmount(Rs) | CreditAmount(Rs) | |
|
Bank A/c (2,500 × 20) To Debenture Application A/c (Application money received) |
Dr.
|
50,000
|
50,000
|
||
|
Debenture Application A/c To 10% Debentures A/c (2,000 × 20) To Bank A/c (500 × 20) (Application money transferred to 10% Debentures A/c) |
Dr.
|
|
50,000
|
40,000 10,000
|
|
|
Debenture Allotment A/c (2,000 × 80) To 10% Debentures A/c (Allotment money due) |
Dr.
|
1,60,000
|
1,60,000
|
||
|
Bank A/c To Debenture Allotment A/c (Allotment money received) |
Dr.
|
1,60,000
|
1,60,000
|
||
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संबंधित प्रश्न
'Ananya Ltd' had an authorized capital of Rs 10,00,00,000 divided into 10,00,000 equity shares of Rs 100 each. The company had already issued 2,00,000 shares. The dividend paid per share for the year ended 31.3.2007 was Rs 30. The management decided to export its products to African countries. To meet the requirements of additional funds, the finance manager put up the following three alternate proposals before the Board of Directors:
(1) Issue 47,500 equity shares at a premium of Rs 100 per share.
(2) Obtain a long-term loan from the bank which was available at 12% per annum.
(3) Issue 9% debentures at a discount of 5%.
After evaluating these alternatives the company decided to issue 1,00,000, 9% debentures on 1.4.2008. The face value of each debenture was Rs 100. These debentures were redeemable in four installments starting from the end of the third year, which was as follows:
| Year | Rs |
| III | 10,00,000 |
| IV | 20,00,000 |
| V | 30,00,000 |
| VI | 40,00,000 |
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Pass necessary journal entries in the given cases :
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Pass necessary journal entries for the issue of debentures in the following cases:
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At what rate of discount did the company issue these Debentures?
On 1st April, 2023, Ruth Ltd. purchased Plant and Machinery for ₹ 11,00,000 from Pablo Ltd. payable as to ₹ 1,00,000 by accepting a promissory note and the balance by an issue of 11% Debentures of ₹ 100 each at a premium of 10% to be redeemed at a premium of 2 % after six years. You are required to pass journal entries in the books of Ruth Ltd. only to record the payment made to Pablo Ltd.
