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प्रश्न
Narain Laxmi Ltd. invited applications for issuing 7,500; 12% Debentures of ₹ 100 each at a premium of ₹ 35 per debenture. The issue price was payable on application. Issue was subscribed and allotment was made.
Pass necessary Journal entries for the above transactions in the books of Narain Laxmi Ltd.
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उत्तर
| Journal Entries In the Books of Narain Laxmi Ltd. |
||||
|---|---|---|---|---|
| Date | Particulars | L.F. | Dr. (₹) | Cr. (₹) |
| 1. | Bank A/c ...Dr. | 10,12,500 | ||
| To Debentures Application A/c | 10,12,500 | |||
| (Application money received on 7,500 debentures at ₹ 135 per debenture) | ||||
| 2. | Debentures Application A/c ...Dr. | 10,12,500 | ||
| To 12% Debentures A/c | 7,50,000 | |||
| To Securities Premium A/c | 2,62,500 | |||
| (7,500, 12% Debentures of ₹ 100 each issued at a premium of ₹ 35 per debenture and allotted.) | ||||
Working note:
Face value of debentures:
7,500 × ₹ 100 = ₹ 7,50,000
Premium on issue:
7,500 × ₹ 35 = ₹ 2,62,500
Total issue price received:
₹ 7,50,000 + ₹ 2,62,500 = ₹ 10,12,500
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संबंधित प्रश्न
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