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प्रश्न
Amar Ltd. purchased assets of the book value of Rs 99,000 from Abhi Ltd. It was agreed that purchase consideration to be paid by issuing 11% Debentures of Rs 100 each Assume debentures have been issued.
1. At par
2. At Discount of 10% and
3. At Premium of 10%
Record necessary journal entries
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उत्तर
Books of Amar Ltd.
Journal Entry
| Date | Particulars | L.F. | Debit Amount (Rs.) | Credit Amount (Rs.) |
| Sundry Assets A/c Dr. To Abhi Ltd. (Assets purchased from Abhi Ltd.) |
99,000 | 99,000 | ||
| On Issue of Debentures at Par Abhi Ltd. Dr. To 11% Debentures A/c (990, 11% Debentures issued @ Rs 100 each for purchases consideration of Rs 100 each) |
99,000 | 99,000 | ||
| On Issue of Debenture @ 10% Discount Abhi Ltd. Dr. Discount on Issue of Debentures A/c Dr. To 11% Debentures A/c (1,100, 11% Debentures issued @ Rs 100 each (including discount of 10%) for purchase consideration of Rs 99,000) |
99,000 11,000 |
110,000 | ||
| On Issue of Debentures at Premium of 10% Abhi Ltd. Dr. To 11% Debentures A/c To Securities Premium A/c (900, 11% Debentures issued @ Rs 110 (including premium of 10%) for purchase consideration of Rs 99,000) |
99,000 | 90,000 9,000 |
Working Notes:
WN1: Calculation of Number of Debentures, when Debentures issued at Discount of 10%
Number of Debentures Issued
=`"Amount Payable"/"(Face Value - Discount) Per Debenture"`
= ` (99,000) /100 - 10 (100 xx 10 %)`
= 1100 Debentures.
WN2: Calculation of Number of Debentures, when Debentures issued at Premium of 10%
Number of Debentures Issued
=`"Amount Payable"/"(Face Value + Premium ) Per Debenture"`
= ` (99,000) /100 + 10 (100 xx 10 %)`
= 900 Debentures.
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संबंधित प्रश्न
'Ananya Ltd' had an authorized capital of Rs 10,00,00,000 divided into 10,00,000 equity shares of Rs 100 each. The company had already issued 2,00,000 shares. The dividend paid per share for the year ended 31.3.2007 was Rs 30. The management decided to export its products to African countries. To meet the requirements of additional funds, the finance manager put up the following three alternate proposals before the Board of Directors:
(1) Issue 47,500 equity shares at a premium of Rs 100 per share.
(2) Obtain a long-term loan from the bank which was available at 12% per annum.
(3) Issue 9% debentures at a discount of 5%.
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| Year | Rs |
| III | 10,00,000 |
| IV | 20,00,000 |
| V | 30,00,000 |
| VI | 40,00,000 |
Prepare 9% debenture account from 1.4.2008 till all the debentures were redeemed.
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| I | 30,000 | 15,000 |
| II | 18,000 | 5,000 |
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Pass the necessary journal entries for the above transactions in the books of BGP Ltd.
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