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प्रश्न
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%.
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उत्तर
Journal
|
Date |
Particulars |
L.F. |
Debit Amount Rs |
Credit Amount Rs |
|
|
(a) |
Bank A/c (280 debentures × 115) |
Dr. |
|
32,200 |
|
|
|
To Debenture Application and Allotment A/c |
|
|
|
32,200 |
|
|
(Application money received) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Debenture Application and Allotment A/c |
Dr. |
|
32,200 |
|
|
|
To 10% Debentures A/c |
|
|
|
28,000 |
|
|
To Securities Premium Reserve A/c |
|
|
|
4,200 |
|
|
(280; 10% Debentures issued at a premium of 15%) |
|
|
|
|
|
|
|
|
|
|
|
|
(b) |
Bank A/c |
Dr. |
|
33,000 |
|
|
|
To Debenture Application and Allotment A/c |
|
|
|
33,000 |
|
|
(Application money received) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Debenture Application and Allotment A/c |
Dr. |
|
33,000 |
|
|
|
Loss On Issue of debentures A/c |
Dr. |
|
4,500 |
|
|
|
To 10% Debentures A/c |
|
|
|
30,000 |
|
|
To Securities Premium Reserve A/c |
|
|
|
3,000 |
|
|
To Premium on Redemption of debentures A/c |
|
|
|
4,500 |
|
|
(300; 10% Debentures issued at a premium of 10% and redeemable at a premium of 15%) |
|
|
|
|
|
|
|
|
|
|
|
|
(c) |
Bank A/c |
Dr. |
|
80,000 |
|
|
|
To Debenture Application and Allotment A/c |
|
|
|
80,000 |
|
|
(Application money received) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Debenture Application and Allotment A/c |
Dr. |
|
80,000 |
|
|
|
Loss On Issue of debentures A/c |
Dr. |
|
8,000 |
|
|
|
To 10% Debentures A/c |
|
|
|
80,000 |
|
|
To Premium on Redemption of debentures A/c |
|
|
|
8,000 |
|
|
(800; 10% Debentures issued at par and redeemable at premium of 10%) |
|
|
|
|
संबंधित प्रश्न
What is the discount on the issue of debentures?
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.
B. Ltd. issued debentures at 94% for Rs 4,00,000 on April 01, 2011 repayable by five equal drawings of Rs 80,000 each. The company prepares its final accounts on March 31 every year.
Indicate the amount of discount to be written-off every accounting year assuming that the company decides to write-off the debentures discount during the life of debentures. (Amount to be written-off: 2012 Rs 8,000; 2013 Rs 6,400; 2014 Rs 4,800; 2015 Rs 2,000; 2016 Rs 1,600).
Narain Laxmi Ltd. invited applications for issuing 7,500; 12% Debentures of ₹ 100 each at a premium of ₹ 35 per debenture. The issue price was payable on application. Issue was subscribed and allotment was made.
Pass necessary Journal entries for the above transactions in the books of Narain Laxmi Ltd.
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.
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.
Footfall Ltd. issues 10,000 Debentures of ₹ 100 each at a discount of 10% redeemable at a premium of 5% after the expiry of three years.
Pass Journal entries for the issue of these debentures.
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 ______.
Excess value of net assets over purchase consideration at the time of purchase of business is credited 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?
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 holders are ______.
Assertion (A): Issue of debenture does not result in dilution of interest of equity shareholders.
Reason (R): Debenture holders have voting rights.
Pick the odd one out.
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:
Debenture holders are the ______.
MK Ltd. has outstanding Rs. 30,000 11% debentures of Rs. 100 each redeemable at 10% premium as follows:
| March 31, 2018 - | 10,000 debentures |
| March 31, 2019 - | 12,000 debentures |
| March 31, 2020 - | Remaining debentures |
Pass necessary journal entries in the books of the company.
