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प्रश्न
X.Ltd. purchased a Machinery from Y. Ltd. at an agreed purchase consideration of Rs. 4,40,000 to be satisfied by the issue of 12% debentures of Rs. 100 each at a premium of Rs 10 per debenture. Journalise the transactions.
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उत्तर
Books of X. Ltd.
Journal
|
Date |
Particulars |
L.F. |
Debit Amount Rs |
Credit Amount Rs |
|||
|
|
Machinery A/c |
Dr. |
|
4,40,000 |
|
||
|
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To Y. Ltd. |
|
|
4,40,000 |
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|
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(Machinery purchased from Y. Ltd.) |
|
|
|
|||
|
|
Y. Ltd. |
Dr. |
|
4,40,000 |
|
||
|
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To 12% Debentures A/c |
|
|
4,00,000 |
|||
|
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To Securities Premium A/c |
|
|
40,000 |
|||
|
|
(Allotted 4,000 debentures of Rs. 100 each at a premium of Rs. 10 per debenture in consideration of Machinery purchased) |
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|
|
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संबंधित प्रश्न
What is meant by redemption of debentures?
Short Answer Question
Under which head is the ‘Debenture Redemption Reserve’ shown in the Balance Sheet?
Differentiate between redemption of debentures out of capital and out of profits.
Explain the guidelines of SEBI for creating the Debenture Redemption Reserve.
Describe the steps for creating a sinking fund for the redemption of debentures.
A company issued debentures of the face value of Rs 5,00,000 at a discount of 6% on April 01, 2012. These debentures are redeemable by annual drawings of Rs,1,00,000 made on March 31 each year. The directors decided to write off discount based on the debentures outstanding each year.
Calculate the amount of discount to be written-off each year. Give journal entries also.
What journal entries will be made in the following cases when company redeems debentures at the expiry of period by serving the notice: (a) when debentures were issued at par with a condition to redeem them at premium; (b) when debentures were issued at premium with a condition to redeem that at par; and (c) when debentures were issued at discount with a condition to redeem them at premium?
Own debentures are those debentures of the company which ______.
Which of the methods can be adopted to write off discount/loss on issue of debentures against the revenue profits?
Which of the following column indicated in the statement given below is to be debited?
"Purchase of own debentures by the company for cancellation" ·
Give the necessary journal entries at time of redemption of debentures
"X Ltd. issued 500, 9% debentures of Rs.100 each at par and redeemable at par at the end of 5 years out of capital."
Premium on Redemption of Debentures Account is a ______ Account.
Premium on Redemption of Debentures Account is a ______.
Premium on redemption of debentures is generally provided at the time of ______.
What is the nature of Premium on Redemption of Debenture Account?
