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प्रश्न
'Ananya Ltd' had an authorized capital of Rs 10,00,00,000 divided into 10,00,000 equity shares of Rs 100 each. The company had already issued 2,00,000 shares. The dividend paid per share for the year ended 31.3.2007 was Rs 30. The management decided to export its products to African countries. To meet the requirements of additional funds, the finance manager put up the following three alternate proposals before the Board of Directors:
(1) Issue 47,500 equity shares at a premium of Rs 100 per share.
(2) Obtain a long-term loan from the bank which was available at 12% per annum.
(3) Issue 9% debentures at a discount of 5%.
After evaluating these alternatives the company decided to issue 1,00,000, 9% debentures on 1.4.2008. The face value of each debenture was Rs 100. These debentures were redeemable in four installments starting from the end of the third year, which was as follows:
| Year | Rs |
| III | 10,00,000 |
| IV | 20,00,000 |
| V | 30,00,000 |
| VI | 40,00,000 |
Prepare 9% debenture account from 1.4.2008 till all the debentures were redeemed.
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उत्तर
| 9% Debentures A/c | |||||||
| Dr. | Cr. | ||||||
| Date | Particulars | J.F | Rs | Date | Particulars | J.F | Rs |
|
2008-09
|
To Balance c/d
|
1,00,00,000
|
2008-09
|
By Debenture Application A/c By Loss on Issue of |
95,00,000
5,00,000 |
||
| 1,00,00,000 | 1,00,00,000 | ||||||
| 2009-10 | To Balance c/d | 1,00,00,000 | 2009-10 | By Balance b/d | 1,00,00,000 | ||
| 1,00,00,000 | 1,00,00,000 | ||||||
|
2010-11
|
To Debenture holder’s A/c To Balance c/d
|
10,00,000 90,00,000
|
2010-11
|
By Balance b/d
|
1,00,00,000
|
||
| 2011-12 |
To Debenture holder’s A/c To Balance c/d |
20,00,000 70,00,000 |
2011-12
|
By Balance b/d
|
90,00,000
|
||
| 90,00,000 | 90,00,000 | ||||||
|
2012-13
|
To Debenture holder’s A/c To Balance c/d |
30,00,000 40,00,000 |
2012-13
|
By Balance b/d
|
70,00,000
|
||
| 70,00,000 | 70,00,000 | ||||||
| 2013-14 | To Debenture holder’s A/c | 40,00,000 | 2013-14 | By Balance b/d | 40,00,000 | ||
| 40,00,000 | 40,00,000 | ||||||
APPEARS IN
संबंधित प्रश्न
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Pass necessary journal entries in the given cases :
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The new Debentures were issued at a premium 25%.
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Write one word/term/phrase which can substitute the following
The debentures where a charge is created on the assets of company.
Write one word/term/phrase which can substitute the following
The issue of debentures more than face value of debentures
Select most appropriate alternative from those given below :
The issue of debenture at its face value is called the issue ___________.
Select most appropriate alternative from those given below :
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State to whether the following statement is True/False.
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Pass Journal entries and show how the amounts appear in Balance Sheet.
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1. At par
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Record necessary journal entries
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Xylo Ltd. issued 9,000, 7% Debentures of ₹ 100 each at a certain rate of discount. After writing off the discount on the issue of debentures, the company was left with a balance of ₹ 35,000 in its Securities Premium out of the original amount of ₹ 71,000.
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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.
