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प्रश्न
Tanagi Ltd. issued Rs 10,000 12% debentures of Rs 100 each at a discount of 5% Payable as follows:
On Application Rs 40
On Allotment Rs 55
Show journal entries assuming that all the installments were duly collected. Also show the relevant portion of the balance sheet.
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उत्तर
Books of Tanagi Ltd.
Journal Entry
| Date | Particulars | L.F. | Debit Amount (Rs.) | Credit Amount (Rs.) |
| Bank A/c Dr. To Debenture Application A/c (Debenture application received on 10,000 12% Debentures of Rs 40 each) |
400,000 | 400,000 | ||
| Debenture Application A/c Dr. To 12% Debentures A/c (Debenture application money transferred to 12% Debenture A/c) |
400,000 | 400,000 | ||
|
Debenture Allotment A/c Dr. |
550,000 50,000 |
600,000 | ||
| Bank A/c Dr. To Debenture Allotment A/c (Debenture Allotment received on 10,000, 12% Debentures of Rs 55 each) |
550,000 | 550,000 |
Balance Sheet of Tanaji Ltd.
| Liabilities | Amount (Rs.) | Assets | Amount (Rs.) |
| Secured loans : 12% Debentures |
10,00,000 | Cash at Bank | 9,50,000 |
| Miscellaneous Exp. - Discount on Issue of Debentures | 50,000 | ||
| 10,00,000 | 10,00,000 | ||
Working Notes :
Face value of Debenture = Rs. 100
Discount ( 100 x 5% ) = Rs. 5
∴ Issue Price = Rs.95
APPEARS IN
संबंधित प्रश्न
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| Year | Rs |
| III | 10,00,000 |
| IV | 20,00,000 |
| V | 30,00,000 |
| VI | 40,00,000 |
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| Particulars | Note No. | 2012 – 13 Rs |
2011 – 12 Rs |
| Revenue from operations | 8,05,000 | 6,14,000 | |
| Other Incomes | 43,000 | 51,000 | |
| Expenses | 5,59,000 | 4,88,000 |
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Answer in a sentence only.
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The following balances have been extracted from the books of Nirvana Ltd, as at 31st March, 2024:
| Particulars | (₹) | Particulars | (₹) |
| Security deposit for electricity for ten years | 30,000 | Uncalled amount on partly paid-up shares | 8,00,000 |
| Underwriting commission | 20,000 | 10% Debentures | 5,00,000 |
| General Reserve | 70,000 | Statement of P/L (Dr.) | 10,000 |
| Fixed Deposits | 2,00,000 | Calls-in arrears @ ₹ 1 per share | 40,000 |
| Premium on redemption of Debentures | 20,000 | Securities Premium | 2,00,000 |
| Equity Share Capital (1,00,000 shares of ₹ 10 each) |
10,00,000 |
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