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प्रश्न
Select the correct statement from the following options.
विकल्प
A debenture holder is entitled to receive a dividend on his debentures from the company even if the company has incurred losses.
A debenture holder is entitled to receive interest on his debentures from the company only if the company has made profits.
A debenture holder is entitled to receive interest on his debentures from the company only after a dividend has been paid by the company to its shareholders.
A debenture holder is entitled to receive interest on his debentures from the company even if the company has incurred losses.
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उत्तर
A debenture holder is entitled to receive interest on his debentures from the company even if the company has incurred losses.
Explanation:
Debenture holders are entitled to interest on their debentures. The interest will be calculated using the face value of the debentures and levied against profits. The interest is paid to debenture holders before any dividends are given to shareholders, and it is produced even in the event of a loss.
संबंधित प्रश्न
Raj Motors Ltd. converted its 400, 12% debentures of Rs 100 each issued at a discount of 6% into equity shares of Rs 10 each issued at a premium of 25%. Discount on issue of 12% debentures had not yet been written off.
Showing your working notes clearly, pass necessary journal entries for the above transactions in the books of Raj Motors Ltd.
On 1.4.2015, GGY Ltd. issued 3000, 9% debentures of Rs 100 each at a discount of 6%, redeemable at a premium of 10% after five years. The company closes its books on 31st March every year. Interest on 9% debentures is payable on 30th September and 31st March. Rate of tax deducted at source is 10%.
Pass necessary journal entries for the issue of 9% debentures and interest for the year ended 31st March, 2016.
Pass necessary journal entries on dissolution of a firm in the following cases:
(i) Dissolution expenses were Rs 4,500.
(ii) Dissolution expenses Rs 5,000 were paid by a partner, Sudhir.
(iii) Sudha, a partner, agreed to do the dissolution work for a commission of Rs 7,300. She also agreed to bear the dissolution expenses. Actual dissolution expenses paid by Sudha were Rs 7,500.
(iv) Somesh, a partner, agreed to do the dissolution work for a commission of Rs 5,000. He also agreed to bear the dissolution expenses. Actual dissolution expenses Rs 4,750 were paid from the firm's bank account.
(v) Sheetal, a partner, was appointed to look after the dissolution work for a remuneration of Rs 8,000. She also agreed to bear the dissolution expenses. Actual dssolution expenses Rs 7,500 were paid by Smita, another partner, on behalf of Sheetal.
(vi) Somaya, a partner, was appointed to look after the dissolution process for a remuneration of Rs 11,000. Somaya agreed to bear the dissolution expenses. Somaya took over stock of the same value as her remuneration. The stock had already been transferred to realisation account.
On 1.4.2015, Neena Ltd. issued 800, 9% debentures of Rs 100 each at a discount of 5%, redeemable at a premium of 8% after five years. The company closes its books on 31st March every year. Interest on 9% debentures is payable on 30th September and 31st March. Rate of tax deducted at source is 10%.
Pass necessary journal entries for the issue of 9% debentures and payment of interest on 9% debentures for the year ended 31st March, 2016.
Pass necessary journal entries in the following cases:
Kim India Ltd. converted 1,000, 9% debentures of Rs 100 each issued at a discount of 10% into equity shares of Rs 100 each issued at a premium of 25%.
A. Ltd. issued 90,00,000, 9% Debenture of Rs 50 each at a discount of 8%, redeemable at par any time after 9 years. Record necessary entries in the books of A. Ltd.
A. Ltd. issued 4,000, 9% Debentures of Rs 100 each on the following terms:
Rs 20 on Application;
Rs 20 on Allotment;
Rs 30 on First call; and
Rs 30 on Final call.
The public applied for 4,800 Debentures. Applications for 3,600 Debentures were accepted in full. Applications for 800 Debentures were allotted 400 Debentures and applications for 400 Debentures were rejected.
T. Ltd. offered 2,00,000, 8% debenture of Rs 500 each on June 30, 2014 at a premium of 10% payable as Rs 200 on application (including premium) and balance on allotment, redeemable at par after 8 years. But application are received for 3,00,000 debentures and the allotment is made on pro-rata basis. All the money due on application and allotment is received. Record necessary entries regarding issue of debentures.
X.Ltd. issued 15,000, 10% debentures of Rs 100 each. Give journal entries and the Balance Sheet in each of the following cases:
(i) The debentures are issued at a premium of 10%;
(ii) The debentures are issued at a discount of 5%;
(iii) The debentures are issued as a collateral security to bank against a loan of Rs 12,00,000; and
(iv) The debentures are issued to a supplier of machinery costing Rs 13,50,000.
On 1st April, 2021, Bhim Ltd. issued 2,000, 5% Debentures of ₹ 100 each as follows:
| (a) For cash at a discount of 5% | ₹ 80,000 (Nominal) |
| (b) To a vendor for ₹ 60,000 in satisfaction of his claim | ₹ 70,000 (Nominal) |
| (c) To Bankers for a loan of ₹ 40,000 as collateral security | ₹ 50,000 (Nominal) |
The interest on these debentures was to be paid annually on 31st March, every year, by the company.
You are required to calculate interest on these debentures payable by the company on 31st March, 2022.
