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प्रश्न
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.
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उत्तर
In the books of Office Products Ltd.
Journal
|
Date |
Particulars |
|
L.F. |
Debit Amount (₹) |
Credit Amount (₹) |
|
2018 |
|
|
|
||
|
April 01 |
Bank A/c |
Dr. |
22,00,000 |
|
|
|
|
To Debentures Application and Allotment A/c |
|
|
22,00,000 |
|
|
|
(Being application money received on 20,000 debentures) |
|
|
|
|
|
|
|
|
|
||
|
April 01 |
Debentures Application and Allotment A/c |
Dr. |
22,00,000 |
|
|
|
|
Loss on Issue of Debentures A/c |
Dr. |
1,00,000 |
|
|
|
|
To 9% Debentures A/c |
|
|
20,00,000 |
|
|
|
To Securities Premium Reserve A/c |
|
|
2,00,000 |
|
|
|
To Premium on Redemption of Debentures A/c |
|
|
1,00,000 |
|
|
|
(Being application and allotment money adjusted and 5% premium on redemption of debentures too) |
|
|
|
|
|
|
|
|
|
||
|
2019 |
|
|
|
||
|
March 31 |
Securities Premium Reserve A/c |
Dr. |
1,00,000 |
|
|
|
|
To Loss on Issue of Debentures A/c |
|
|
1,00,000 |
|
|
|
(Being loss on issue of debentures written off) |
|
|
|
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संबंधित प्रश्न
What is meant by ‘Issue of debentures for Consideration other than Cash’?
What is ‘Capital Reserve’?
Long Answer Question
How is ‘Discount on Issue of Debentures’ treated in the books of accounts? How will you deal with the ‘discount in issue of debentures’ when the debentures are to be redeemed in instalments?
Journalise the following:
(i) A debenture issued at Rs. 95, repayable at Rs. 100;
(ii) A debenture issued at Rs. 95, repayable at Rs. 105; and
(iii) A debenture issued at Rs. 100, repayable at Rs. 105;
The face value of the debenture in each of the above cases is Rs. 100.
A. Ltd. issued 50,00,000, 8% Debentures of Rs 100 at a discount of 6% on April 01, 2009, redeemable at a premium of 4% by draw of lots as under:
20,00,000 Debentures on March, 2011
10,00,000 Debentures on March 2013
20,00,000 Debentures on March 2014
Compute the amount of discount to be written off in each year till debentures are paid. Also prepare the discount/loss on the issue of the debenture account.
B. Ltd. issued 1,000, 12% debentures of Rs 100 each on April 01, 2014, at a discount of 5% redeemable at a premium of 10%.
Give journal entries relating to the issue of debentures and debenture interest for the period ending March 31, 2015, assuming that interest is paid half-yearly on September 30 and March 31, and tax deducted at source is 10%.
The Amrit Ltd was promoted by Amrit and Bhaskar with an authorised capital of ₹ 10,00,000 divide into 1,00,000 shares of ₹ 10 each.
The company decided to issue 1,000 6% Debentures of ₹ 100 each to Amrit and Bhaskar, each for their services in incorporating the company.
Pass journal entry.
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.
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%.
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.
A limited company issued ₹ 1,00,000, 9% Debentures at a discount of 6% on 1st April, 2017. These debentures are to be redeemed equally, spread over 5 annual instalments.
Pass the Journal entries for issue of debentures and writing off the discount.
Debentures which are transferable by mere delivery are ______.
X Co. Ltd. purchased assets worth Rs.28,80,000. It issued debentures of Rs. 100 each at a discount of 4 per cent in full satisfaction of the purchase consideration. The number of debentures issued to vendor is ______.
When debentures are issued at par and are redeemable at a premium, the loss on such an issue is debited to ______.
The word 'debenture' has been derived from which Latin word (which means to borrow)?
Loss on Issue of Debenture Account is shown:
The loss on issue of Debentures is written-off from ______.
Debenture premium cannot be used to ______.
A Ltd. took over the assets of ₹ 6,60,000 and liabilities of ₹ 80,000 of B Ltd. for an agreed purchase consideration of ₹ 6,00,000 payable 10% in cash and the balance by the issue of 15% debentures of ₹ 100 each at 10% discount. The number of debentures to be issued is:
X Ltd. purchased assets of ₹ 18,00,000 and took over liabilities of ₹ 6,00,000 of Y Ltd. for a purchase consideration of ₹ 10,00,000. The payment to Y Ltd. was made by issue of 9% debentures of ₹ 100 each at ₹ 125. Calculate the number of 9% debentures issued in favour of Y Ltd. and pass the necessary journal entries for the above transactions in the books of X Ltd.
