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प्रश्न
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 |
You are required to show the above items in Notes to Accounts accompanying the Balance Sheet of Nirvana Ltd. prepared as per Schedule III of the Companies Act 2013 as at 31st March, 2024.
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उत्तर
| Particulars | (₹) | (₹) | |
| 1. | Share Capital | ||
| Authorised Capital | |||
| ………. Equity shares @ ₹ 10 each | ………. | ||
| Issued Capital | |||
| ………. Equity shares @ ₹ 10 each | ………. | ||
| Subscribed Capital | |||
| Subscribed and fully paid | |||
| 60,000 Equity shares @ ₹ 10 each | 6,00,000 | ||
| Subscribed but not fully paid | |||
| 40,000 Equity shares @ ₹ 10 each | 4,00,000 | ||
| Less: Calls-in-arrears | (40,000) | 3,60,000 | |
| 9,60,000 | |||
| 2. | Reserves & Surplus | ||
| Securities Premium | 2,00,000 | ||
| Less: Underwriting commission | (20,000) | ||
| General Reserve | 70,000 | ||
| Statement of P/L (Dr.) | (10,000) | 2,40,000 | |
| 3. | Long-term Borrowing | ||
| 10% Debentures | 5,00,000 | ||
| Premium on Redemption of Debentures | 20,000 | ||
| Fixed Deposits | 2,00,000 | 7,20,000 | |
| 4. | Long-term Loans and Advances | ||
| Security deposit for electricity for ten years | 30,000 | ||
| 5. | Contingent Liabilities & Capital Commitments Capital Commitments | ||
| Uncalled amount on partly paid-up shares | 8,00,000 |
APPEARS IN
संबंधित प्रश्न
Joy Ltd. invited applications for issuing 20,000 equity shares of Rs 10 each at par. The amount was payable as follows:
On Application − Rs 3 per share
On Allotment − Rs 4 per share
On First and find call − Balance amount
The issue was oversubscribed by three times. Applications for 20% shares were rejected and the money was refunded. Allotment was made to the remaining applicants as follows:
| Category | No. of Shares Applied | No. of Shares Allotted |
| I | 30,000 | 15,000 |
| II | 18,000 | 5,000 |
Excess money received with applications was adjusted towards sums due on allotment. Money in excess to sums due on allotment was adjusted towards sums due on first and final call and any money in excess to sums due on first and final call was refunded. Kavi, a shareholder who had applied for 600 shares, failed to pay the remaining allotment money and his shares were immediately forfeited. Kavi belonged to Category I.
Afterwards the first and final call was made. Gupta, who had applied for 400 shares, failed to pay the first and final call. Gupta also belonged to Category I.
Shares of Gupta were also forfeited after the first and final call. The forfeited shares were reissued at Rs 12 per share fully paid up.
Pass necessary journal entries for the above transactions in the books of Joy Ltd.
X Ltd. redeemable 100, 6% Debentures of Rs 100 each by converting them into Equity Shares of Rs 100 each. The 6% Debentures were redeemable at 10% premium for which the Equity Shares were issued at 25% premium. Pass the necessary Journal entries for the redemption of above mentioned debentures in the books of X Ltd.
X Ltd. obtained a loan of Rs. 4,00,000 from IDBI Bank. The company issued 5,000, 9% Debentures of Rs. 100 each as collateral security for the same. Show how these items will be presented in the Balance Sheet of the company.
Answer in a sentence only.
What is meant by ‘Issue of debenture at discount and redeemable at premium’?
State to whether the following statement is True/False.
The issue of debenture more than face value is termed on issue of debentures at par.
Hero Ltd. purchased plant and machinery for ₹ 18,00,000 from Pearl Machines Ltd. payable ₹ 3,00,000 by drawing a promissory note and the balance by the issue of 9% debentures of ₹ 100 each at a premium of 20%.
Pass the necessary journal entries in the books of Hero Ltd. for the above transactions.
Savitri Ltd. issued 50,000, 8% Debentures of ₹ 100 each at a certain rate of premium to be redeemed at a 10% premium. At the time of writing off Loss on Issue of Debentures, Statement of Profit and Loss was debited with ₹ 2,00,000. At what rate of premium, these debentures were issued?
Durga Ltd. issued 80,000, 10% Debentures of ₹ 100 each at a certain rate of discount and were to be redeemed at a 20% premium. Existing balance of Securities Premium before issuing of these debentures was ₹ 25,00,000 and after writing off Loss on the Issue of Debentures, the balance in Securities Premium was ₹ 5,00,000. At what rate of discount, these debentures were issued?
As per Companies Act 2013, Securities Premium Balance can be utilised for which of the following purpose?
On 1st April 2022, Galaxy ltd. had a balance of ₹8,00,000 in Securities Premium account. During the year company issued 20,000 Equity shares of ₹10 each as bonus shares and used the balance amount to write off Loss on issue of Debenture on account of issue of 2,00,000, 9% Debentures of ₹100 each at a discount of 10% redeemable @ 5% Premium. The amount to be charged to Statement of P & L for the year for Loss on issue of Debentures would be:
