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प्रश्न
Alka Ltd. issued 5,000, 10% Debentures of ₹ 1,000 each at a discount of 10% redeemable after 5 years. According to the terms of issue, ₹ 500 (after discount of ₹ 50) was payable on application and the balance amount on allotment of debentures. Record necessary entries regarding issue of 10% Debentures.
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उत्तर
| Journal Entries In the Books of Alka Ltd. |
||||
|---|---|---|---|---|
| Date | Particulars | L.F. | Dr. (₹) | Cr. (₹) |
| 1. | Bank A/c ...Dr. | 25,00,000 | ||
| To Debentures Application A/c | 25,00,000 | |||
| (Application money received @ ₹ 500 per debenture) | ||||
| 2. | Debentures Application A/c ...Dr. | 25,00,000 | ||
| Discount on Issue of Debentures A/c ...Dr. | 2,50,000 | |||
| To 10% Debentures A/c | 27,50,000 | |||
| (Application money transferred and discount of ₹ 50 per debenture recorded) | ||||
| 3. | Debentures Allotment A/c ...Dr. | 20,00,000 | ||
| Discount on Issue of Debentures A/c ...Dr. | 2,50,000 | |||
| To 10% Debentures A/c | 22,50,000 | |||
| (Allotment money due after adjustment of discount of ₹ 50 per debenture) | ||||
| 4. | Bank A/c ...Dr. | 20,00,000 | ||
| To Debentures Allotment A/c | 20,00,000 | |||
| (Allotment money received @ ₹ 400 per debenture) | ||||
Working note:
Face value of debentures:
5,000 × ₹ 1,000 = ₹ 50,00,000
Total discount @ 10%:
₹ 50,00,000 × 10% = ₹ 5,00,000
On application, ₹ 500 is payable after discount of ₹ 50. Therefore, nominal amount due on application:
₹ 500 + ₹ 50 = ₹ 550
Balance nominal amount due on allotment:
₹ 1,000 − ₹ 550 = ₹ 450
Remaining discount on allotment:
₹ 100 − ₹ 50 = ₹ 50
Hence, cash payable on allotment:
₹ 450 − ₹ 50 = ₹ 400
संबंधित प्रश्न
What is ‘Capital Reserve’?
Short Answer Question
Name the head under which ‘discount on issue of debentures’ appears in the Balance Sheet of a company.
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(a) at par
(b) at a discount of 10% and
(c) at a premium of 10%.
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Which of the following. column indicated in·the statement given below is to be credited?
"Writing off the loss on issue of debentures"
Loss on Issue of Debenture Account is shown:
The loss on issue of Debentures is written-off from ______.
Rehana, Shakina and Jasmine are partners. They share When debentures are issued as collateral security, the final entry for recording the transaction in the books is ______.
When the debenture of face value of ₹ 100 is issued at ₹ 100 is called, issue off debenture at ______.
Debentures are considered as ______ equity.
Interest on Debentures is a charge against ______.
Assertion (A): Issue of debenture does not result in dilution of interest of equity shareholders.
Reason (R): Debenture holders have voting rights.
Debenture premium cannot be used to ______.
Pick the odd one out.
Which of the following statement is true?
Debenture holders are the ______.
