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प्रश्न
On 1st April, 2015. Mathew Ltd. issued 10,000, 9% Debentures of ₹ 100 each at a discount of 5%, redeemable at a premium of 5%. These debentures were redeemable as follows:
| On 31st March, 2016 | 2,000 Debentures; |
| On 31st March, 2017 | 5,000 Debentures; |
| On 31st March, 2018 | 3,000 Debentures. |
Prepare the Loss on Issue of Debentures Account, Debentures Account and Premium on Redemption of Debentures Account for three years.
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उत्तर
In the books of Mathew Ltd.
Loss on Issue of Debentures A/c
Dr. Cr.
|
Date |
Particulars |
Amount (₹) |
Date |
Particulars |
Amount (₹) |
||
| 2015 |
|
2016 |
|
||||
| April 01 | To 9% Debentures A/c |
1,00,000 |
March 31 | By Statement of Profit & Loss A/c |
1,00,000 |
||
|
1,00,000 |
1,00,000 |
||||||
9% Debentures A/c
Dr. Cr.
|
Date |
Particulars |
Amount (₹) |
Date |
Particulars |
Amount (₹) |
||
| 2016 |
|
2015 |
|
||||
| March 31 | To Debentureholders A/c |
2,00,000 |
April 01 | By Debenture Application & Allotment A/c |
9,50,000 |
||
| March 31 | To balance c/d |
8,00,000 |
April 01 | By Loss on Issue of Debentures A/c |
50,000 |
||
|
10,00,000 |
10,00,000 |
||||||
| 2017 |
|
2016 |
|
||||
| March 31 | To Debentureholders A/c |
5,00,000 |
April 01 | By balance b/d |
8,00,000 |
||
| March 31 | To balance c/d |
3,00,000 |
|
||||
|
8,00,000 |
8,00,000 |
||||||
| 2018 |
|
2017 |
|
||||
| March 31 | To Debentureholders A/c |
3,00,000 |
April 01 | By balance b/d |
3,00,000 |
||
|
3,00,000 |
3,00,000 |
||||||
Premium on Redemption of Debentures A/c
Dr. Cr.
|
Date |
Particulars |
Amount (₹) |
Date |
Particulars |
Amount (₹) |
||
| 2016 |
|
2015 |
|
||||
| March 31 | To Debentureholders A/c |
10,000 |
April 01 | By Loss on Issue of Debentures A/c |
50,000 |
||
| March 31 | To balance c/d |
40,000 |
|
||||
|
50,000 |
50,000 |
||||||
| 2017 |
|
2016 |
|
||||
| March 31 | To Debentureholders A/c |
25,000 |
April 01 | By balance b/d |
40,000 |
||
| March 31 | To balance c/d |
15,000 |
|
||||
|
40,000 |
40,000 |
||||||
| 2018 |
|
2017 |
|
||||
| March 31 | To Debentureholders A/c |
15,000 |
April 01 | By balance b/d |
15,000 |
||
|
15,000 |
15,000 |
||||||
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संबंधित प्रश्न
Short Answer Question
What is meant by ‘Issue of debentures for Consideration other than Cash’?
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 debenture in each of the above cases is Rs 100.
A company issues the following debentures:
- 10,000 12% debentures of Rs.100 each at par but redeemable at premium of 5% after 5 years;
- 10,000 12% debentures of Rs.100 each at a discount of 10% but redeemable at par after 5 years;
- 5,000 12% debentures of Rs.1,000 each at a premium of 5% but redeemable at par after 5 years;
- 1,000 12% debentures of Rs.100 each issued to a supplier of machinery costing Rs.95,000. The debentures are repayable after 5 years and
- 300 12% debentures of Rs.100 each as a collateral security to a bank that has advanced a loan of Rs.25,000 to the company for a period of 5 years.
Pass the journal entries to record the issue of debentures.
Raj Ltd . issued 5,000; 8% Debentures of ₹ 100 each at a premium of 5% payable as follows:
₹ 10 on application ; ₹ 20 along with premium on allotment and balance on first and final call.
Pass necessary Journal entries.
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.
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.
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 premium of 25% as purchase consideration.
Record necessary journal entries in the books of Romi Ltd.
Grown Ltd. issued 500, 10% Debentures of ₹ 1,000 each credited as fully paid-up to the promoters for their services to incorporate the company. It also issued 100, 10% Debentures of ₹ 1,000 each credited as fully paid-up to the underwriters towards their commission. Pass the Journal entries.
Pass necessary Journal entries relating to the issue of debentures for the following:
(a) Issued ₹ 4,00,000; 9% Debentures of ₹ 100 each at a premium of 8% redeemable at 10% premium.
(b) Issued ₹ 6,00,000; 9% Debentures of ₹ 100 each at par, repayable at a premium of 10%.
(c) Issued ₹ 10,00,000; 9% Debentures of ₹ 100 each at a premium of 5%, redeemable at par.
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%.
Pass necessary Journal entries for the issue of debentures in the following cases:
- ₹ 40,000; 12% Debentures of ₹ 100 each issued at a premium of 5% redeemable at par.
- ₹ 70,000; 12% Debentures of ₹ 100 each issued at a premium of 5% redeemable at ₹ 110.
On 1st June, 2017, R Energy Ltd. issued 10,000, 7% Debentures of ₹ 100 each at a discount of 10% redeemable at a premium of 10% at the end of five years. All the debentures were subscribed and allotment was made.
Prepare the Balance Sheet (extract) as at 31st March, 2018.
The debentures are issued with a specified rate of interest, which is called the coupon rate are known as which types of debentures?
Loss on Issue of Debenture Account is shown:
Debenture holders are ______.
Debenture holders are the ______.
Debenture is ______.
A company can issue debentures:
XYZ Ltd. Issued 6,000, 12% Debentures of ? 50 each on April 1, 2014. Interest on these debenture is payable annually 3151 March each year. The debentures are redeemable in four equal installments at end of third, fourth, fifth and sixth year. You are required to pan journal entries at the time of issue and redemption of debentures in the books of the company under following cases:
- Debentures are issued at par and redeemable at par.
- Debentures are issued at a premium of 10% and redeemable at par.
- Debentures are issued at a discount of 10% and redeemable at par.
- Debenture are issued at par but redeemable at a premium of 10%.
- Debentures are issued at a premium of 10% and redeemable at premium of 10%.
- Debenture are issued at a discount of 10% and redeemable at a premium of 10%.
