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प्रश्न
Wellbeing Ltd. took over assets of ₹ 9,80,000 and liabilities of ₹ 40,000 of HDR Ltd. at an agreed value of ₹ 9,00,000. Wellbeing Ltd. paid to HDR Ltd. by issue of 9% Debentures of ₹ 100 each at a premium of 20%. Pass necessary Journal entries to record the above transactions in the books of Wellbeing Ltd.
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उत्तर
In the books of Wellbeing Ltd.
Journal
|
Date |
Particulars |
|
L.F. |
Debit |
Credit |
|
|
Sundry Assets A/c |
Dr. |
9,80,000 |
|
|
|
|
To Sundry Liabilities A/c |
|
|
40,000 |
|
|
|
To HDR Ltd. |
|
|
9,00,000 |
|
|
|
To Capital Reserve A/c |
|
|
40,000 |
|
|
|
(Being the purchase of business of HDR Ltd.) |
|
|
|
|
|
|
|
|
|
||
|
|
HDR Ltd. A/c |
Dr. |
9,00,000 |
|
|
|
|
To 9% Debentures A/c (7,500 × 100) |
|
|
7,50,000 |
|
|
|
To Securities Premium Reserve A/c (7,500 × 20) |
|
|
1,50,000 |
|
|
|
(Being 36,000, 10% debentures issued as purchase consideration) |
|
|
Working Notes:
Number of Debentures issued = (9,00,000/120) = 7,500 debentures.
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संबंधित प्रश्न
What is the discount on the issue of debentures?
Short Answer Question
Name the head under which ‘discount on issue of debentures’ appears in the Balance Sheet of a company.
Long Answer Question
Explain the different terms for the issue of debentures with reference to their redemption.
A company issues the following debentures:
- 10,000 12% debentures of Rs. 100 each at par but redeemable at a premium of 5% after 5 years;
- 10,000 12% debentures of Rs. 100 each at a discount of 10% but redeemable at par after 5 years;
- 5,000 12% debentures of Rs. 1,000 each at a premium of 5% but redeemable at par after 5 years;
- 1,000 12% debentures of Rs. 100 each issued to a supplier of machinery costing Rs. 95,000. The debentures are repayable after 5 years and
- 300 12% debentures of Rs. 100 each as collateral security to a bank that has advanced a loan of Rs. 25,000 to the company for a period of 5 years.
Pass the journal entries to record the: (a) issue of debentures, and (b) repayment of debentures after the given period.
B. Ltd. issued 1,000, 12% debentures of Rs 100 each on April 01, 2014, at a discount of 5% redeemable at a premium of 10%.
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Pass necessary Journal entries for the above transactions in the books of Narain Laxmi Ltd.
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Romi Ltd. issued 8% Debentures of ₹ 100 each at a premium of 25% as purchase consideration.
Record necessary journal entries in the books of Romi Ltd.
Journalise the following transaction at the time of issue of 12% Debentures:
Nandan Ltd. issued ₹90,000, 12% Debentures of ₹ 100 each at a discount of 5% redeemable at 110%.
Kitply Ltd.issued ₹ 2,00,000, 10% Debentures at a discount of 5% .The terms of issue provide the repayment at the end of 4 years . Kitply Ltd.has a balance of ₹ 5,00,000 in Securities Premium Reserve . The company decided to write off discount on issue of debentures from Securities Premium Reserve in the first year.
Pass the journal entry.
On 1st April, 2017, Solar Power Ltd. issued 10,000, 8% Debentures of ₹ 100 each at a discount of 5% redeemable at a premium of 15% at the end of five years. All the debentures were subscribed and allotment was made. The company had balance in Securities Premium Reserve of ₹ 80,000.
Prepare the Balance Sheet (extract) as at 31st March, 2018.
On 1st April, 2015. Mathew Ltd. issued 10,000, 9% Debentures of ₹ 100 each at a discount of 5%, redeemable at a premium of 5%. These debentures were redeemable as follows:
| On 31st March, 2016 | 2,000 Debentures; |
| On 31st March, 2017 | 5,000 Debentures; |
| On 31st March, 2018 | 3,000 Debentures. |
Prepare the Loss on Issue of Debentures Account, Debentures Account and Premium on Redemption of Debentures Account for three years.
Debentures which are transferable by mere delivery are ______.
When debentures are issued at a discount and are redeemable at a premium, which of the following accounts is debited at the time of issue?
Premium on redemption is shown under which head until debentures are redeemed?
Which of the following. column indicated in·the statement given below is to be credited?
"Writing off the loss on issue of debentures"
Debenture interest is paid as ______.
When the debenture of face value of ₹ 100 is issued at ₹ 100 is called, issue off debenture at ______.
Maximum limit on premium on issue of debentures is ______.
Premium received on issue of debentures may be utilised for:
