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प्रश्न
Nipa Limited issued ₹ 10,00,000 Debentures of ₹ 100 each at a premium of 10% , payable 25% on application (including premium) and the balance on allotment . The debentures were applied for and the amount was dully received.
You are required to give Journal entries and prepare Cash Book.
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उत्तर
Face Value of Debenture = Rs 100
Premium (Rs 100 × 10%) = Rs 10
∴ Issue Price = Rs 110
Amount Payable as:
|
On Application (25%) |
Rs 25 including premium of Rs 10 (i.e. Rs 10 + 15) |
|
On Allotment (85%) |
Rs 85 per debenture |
Journal
|
Date |
Particulars |
L.F. |
Debit Amount Rs |
Credit Amount Rs |
|
|
|
Debenture Application A/c |
Dr. |
|
2,50,000 |
|
|
|
To Debentures A/c |
|
|
1,50,000 |
|
|
|
To Securities Premium A/c |
|
|
1,00,000 |
|
|
|
(Debenture application money received for 10,000 debentures at Rs 25 including premium of Rs10 each transferred to debenture account) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Debenture Allotment A/c |
Dr. |
|
8,50,000 |
|
|
|
To Debentures A/c |
|
|
8,50,000 |
|
|
|
(Debentures allotment due on 10,000 Debentures at Rs 85 each) |
|
|
|
|
Cash Book
Dr. Cr.
|
Date |
Particulars |
L.F. |
Bank Rs |
Date |
Particulars |
L.F. |
Bank Rs |
|
|
Debenture Application |
|
2,50,000 |
|
|
|
|
|
|
Debenture Allotment |
|
8,50,000 |
|
|
|
|
|
|
Balance c/d |
|
11,00,000 |
||||
|
11,00,000 |
11,00,000 |
||||||
APPEARS IN
संबंधित प्रश्न
Alok Ltd. issued 7,000, 10% Debentures of ₹ 500 each at a premium of ₹ 50 per debenture redeemable at a premium of 10% after 5 years. According to the terms of issue, ₹ 200 was payable on application and balance on allotment.
Record necessary Journal entries at the time of issue of 10% Debentures.
Alka Ltd . issued 5,000, 10% Debentures of ₹ 1,000 each at a discount of 10% redeemable at a premium of 5% after 5 years . According to the terms of issue ₹ 500 was payable on application and the balance amount on allotment of debentures. Record necessary entries regarding issue of 10% Debentures.
Romi Ltd. acquired assets of ₹ 20 lakhs and took over creditors of ₹ 2 lakhs from Kapil Enterprises.
Romi Ltd. issued 8% Debentures of ₹ 100 each at a discount of 10% as purchase consideration.
Record necessary journal entries in the books of Romi 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%.
Pass necessary Journal entries relating to the issue of debentures for the following:
(a) Issued ₹ 28,000; 10% Debentures of ₹ 100 each at a premium of 15% redeemable at par.
(b) Issued ₹ 30,000; 10% Debentures of ₹ 100 each at a premium of 10% and redeemable at a premium of 15%.
(c) Issued ₹ 80,000; 10% Debentures of ₹ 100 each at par repayable at a premium of 10%.
XYZ Ltd.issued 5,000 , 10% Debentures of ₹ 100 each on 1st April, 2015 at a discount of 10% redeemable at a premium of 10% after 4 years. Give journal entries for the year ended 31st March, 2016, assuming that the interest was payable half-yearly on 30th September and 31st March. Tax is to be deducted @ 10%.
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.
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 ______.
Debenture interest is paid as ______.
The loss on issue of Debentures is written-off from ______.
Interest on Debentures is a charge against ______.
Assertion (A): Issue of debenture does not result in dilution of interest of equity shareholders.
Reason (R): Debenture holders have voting rights.
Discount on issue of debentures is a ______
Loss on issue of debentures is treated as ______.
Debenture holders are the ______.
Assertion (A): Sarita Pvt. Ltd. issued 15% 10,000 debentures at par @ ₹ 100 per debenture. The company suffered a loss but still the directors of the company paid interest on debentures.
Reason (R): Interest on debenture is a charge against profits and therefore, its payment is not subject to the earning of profit.
