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Journalise the Following:

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प्रश्न

Journalise the following:
(a) A debenture issued at ₹95, repayable at ₹ 100.
(b) A debenture issued at ₹95, repayable at ₹ 105.
(c) A debenture issued at ₹95, repayable at ₹ 105.
The face value of debenture is  ₹ 100 in each of the above cases.

रोजनामा प्रविष्टि
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उत्तर

Journal

Date

Particulars

L.F.

Debit 

Amount

Rs

Credit Amount

Rs

(a)

Bank A/c

Dr.

 

95

 

 

To Debenture Application A/c

 

 

95

 

(Debenture application money received)

 

 

 

 

 

 

 

 

 

Debenture Application A/c

Dr.

 

95

 

 

Discount on Issue of Debentures A/c

 

 

5

 

 

To Debenture A/c

 

 

100

 

(Debenture of Rs 100 each issued at Rs 95 with the term repayable at par)

 

 

 

 

 

 

 

 

(b)

Bank A/c

Dr.

 

95

 

 

To Debenture Application A/c

 

 

95

 

(Debenture application money received)

 

 

 

 

 

 

 

 

 

Debenture Application A/c

Dr.

 

95

 

 

Discount on Issue of Debentures A/c

Dr.

 

5

 

 

Loss on Issue of Debentures A/c

Dr.

 

5

 

 

To Debentures A/c

 

 

100

 

To Premium on Redemption A/c

 

 

5

 

(Debenture of Rs 100 each issued of Rs 95 with the term repayable at Rs 105)

 

 

 

 

 

 

 

 

(c)

Bank A/c

Dr.

 

100

 

 

To Debenture Application A/c

 

 

100

 

(Debenture Application received)

 

 

 

 

 

 

 

 

 

Debenture Application A/c

Dr.

 

100

 

 

Loss on Issue of Debentures A/c

Dr.

 

5

 

 

To Debentures A/c

 

 

100

 

To Premium on Redemption A/c

 

 

5

 

(Debenture of Rs 100 each issued at par with the term repayable at Rs 105)

 

 

 

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अध्याय 9: Issue of Debentures - Exercise [पृष्ठ ५५]

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टीएस ग्रेवाल Accountancy Double Entry Book Keeping Volume 1 and 2 [English] Class 12
अध्याय 9 Issue of Debentures
Exercise | Q 32 | पृष्ठ ५५

संबंधित प्रश्न

What is ‘Capital Reserve’?


What is meant by an ‘Irredeemable Debenture’?


B. Ltd. purchased assets of the book value of Rs. 4,00,000 and took over the liability of Rs. 50,000 from Mohan Bros. It was agreed that the purchase consideration, settled at Rs. 3,80,000, be paid by issuing debentures of Rs 100 each.

What Journal entries will be made in the following three cases, if debentures are issued: (a) at par; (b) at discount; (c) at a premium of 10%? It was agreed that any fraction of debentures be paid in cash.

(Note: Goodwill Rs. 30,000)


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 .  


Iron Products Ltd. issued 5,000; 9% Debentures of ₹ 100 each at a premium of ₹ 40 payable as follows;
(i) ₹ 40 , including premium of ₹ 10 on applications;
(ii) ₹ 45, including premium of ₹ 15 on allotment ; and
(iii) Balance as first and final call.
The issue was subscribed and allotment made. Calls were made and due amount  was received .
Pass Journal entries .


Bright Ltd. took over the assets of ₹ 6,60,000 and liabilities of ₹ 80,000 of Star Ltd. for an agreed purchase consideration of ₹ 6,00,000 payable 10% in cash and the balance by the issue of 12% Debentures of ₹ 100 each. Give necessary Journal entries in the books of Bright Ltd., assuming that:
Case (a): The debentures are issued at par.
Case (b): The debentures are issued at 20% premium.
Case (c): The debentures are issued at 10% discount.


Wellbeing Ltd. took over assets of ₹ 9,80,000 and liabilities of ₹ 40,000 of HDR Ltd. at an agreed value of ₹ 9,00,000. Wellbeing Ltd. paid to HDR Ltd. by issue of 9% Debentures of ₹ 100 each at a premium of 20%. Pass necessary Journal entries to record the above transactions in the books of Wellbeing Ltd.


Pass journal entries in the following cases:
(a) A Co.Ltd. issued ₹40,000; 12% Debentures at a premium of 5% redeemable at par.
(b) A Co.Ltd. issued ₹40,000; 12% Debentures at a discount of 10% redeemable at par.
(c) A Co.Ltd. issued ₹40,000; 12% Debentures at par redeemable at 10% premium.
(d) A Co.Ltd. issued ₹40,000; 12% Debentures at a discount of 5%  and redeemable at 5% premium.
(e) A Co.Ltd. issued ₹40,000; 12% Debentures at a premium of 10% redeemable at 110%.


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 .


Kitply Ltd.issued  ₹ 2,00,000, 10% Debentures  at a discount of 5% .The terms of issue provide the repayment at the end of 4 years . Kitply Ltd.has a balance of ₹ 5,00,000 in Securities Premium Reserve . The company decided to write off  discount on issue of debentures from Securities Premium Reserve in the first year.
Pass the journal entry.


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.


Discount on issue of debentures is shown under the following head in the Balance Sheet?


When debentures are issued at par and are redeemable at a premium, the loss on such an issue is debited to ______.


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?


A debenture is a ______.


Loss on Issue of Debenture Account is shown:


When the debenture of face value of ₹ 100 is issued at ₹ 100 is called, issue off debenture at ______.


Which of the following is not a characteristic of Bearer Debentures?


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