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प्रश्न
Pass necessary journal entries in the Given cases :
Sunrise Ltd. converted 500, 9% debentures of Rs 100 each issued at a discount of 10% into equity shares of Rs 100 each issued at a premium of Rs 25%.
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उत्तर
| Books of Sunrise Ltd. Journal Entry |
||||
| Date | Particulars | L.F. |
Debit Rs |
Credit Rs |
|
12% Debenture A/c Dr. To Debenture holder A/c To Discount on issue of debenture A/c (Being 500 12% debenture of Rs 100 each issue at a discount of 6% due for redemption) |
50,000
|
45,000 5,000
|
||
|
Debenture A/c Dr. To Equity Share Capital A/c To Securities Premium A/c (Being payment made to debenture holder by issuing 360 equity share of Rs 100 each at a premium of Rs 25%) |
45,000
|
36,000 9,000
|
||
Working Note:
Number of Equity share issued = `" Amount Payable to Debentureholder"/"Price of a Share"`
Number of Equity share issued = `45000/(125(100 + 25))` = 360 Equity shares
