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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 the discount on the issue of debentures?
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.
Vishwas Ltd. issued 2,000; 9% Debentures of ₹ 100 each payable as follows:
₹ 25 on application; ₹ 25 on allotment and ₹ 50 on first and final call.
Applications were received for all the debentures along with the application money did allotment was made . Call money was also received on the due date.
Pass necessary Journal entries in the books of the company.
Nipa Limited issued 10,000 Debentures of ₹ 100 each at a premium of 10%, payable 30% of nominal (facе) value on application (including premium) and the balance on allotment. The debentures were applied for and the amount was duly received.
You are required to give Journal entries and prepare Cash Book.
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.
Green Ltd. purchased the assets of Strong Ltd. for ₹ 40,00,000 and took over liabilities of ₹ 7,00,000 for ₹ 32,40,000. Payment was made by issuing 10% Debentures of ₹ 100 each at a discount of 10%. Pass the necessary Journal entries in the books of Green Ltd.
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.
Global Ltd. issued 10,000, 8% Debentures of ₹ 100 each redeemable in four equal instalments by draw of lots from the end of 3 years at a premium of ₹ 9.
Pass the Journal entries for writing off the Loss on Issue of Debentures. Also prepare Loss on issue of Debentures Account.
On 1st April, 2017, Solar Power Ltd. issued 10,000, 8% Debentures of ₹ 100 each at a discount of 5% redeemable at a premium of 15% at the end of five years. All the debentures were subscribed and allotment was made. The company had balance in Securities Premium Reserve of ₹ 80,000.
Prepare the Balance Sheet (extract) as at 31st March, 2018.
Which of the following. column indicated in·the statement given below is to be credited?
"Writing off the loss on issue of debentures"
A debenture is a ______.
Debenture interest is paid as ______.
Debenture holders are ______.
Debentures are considered as ______ equity.
10% Debenture issued at ₹ 105 is repayable at ₹ 110, the face value of the debenture being ₹ 100. Calculate the amount of loss on redemption of debentures.
A company can issue debentures:
Premium received on issue of debentures may be utilised for:
