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प्रश्न
Nipa Limited issued ₹ 10,00,000 Debentures of ₹ 100 each at a premium of 10% , payable 25% on application (including premium) and the balance on allotment . The debentures were applied for and the amount was dully received.
You are required to give Journal entries and prepare Cash Book.
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उत्तर
Face Value of Debenture = Rs 100
Premium (Rs 100 × 10%) = Rs 10
∴ Issue Price = Rs 110
Amount Payable as:
|
On Application (25%) |
Rs 25 including premium of Rs 10 (i.e. Rs 10 + 15) |
|
On Allotment (85%) |
Rs 85 per debenture |
Journal
|
Date |
Particulars |
L.F. |
Debit Amount Rs |
Credit Amount Rs |
|
|
|
Debenture Application A/c |
Dr. |
|
2,50,000 |
|
|
|
To Debentures A/c |
|
|
1,50,000 |
|
|
|
To Securities Premium A/c |
|
|
1,00,000 |
|
|
|
(Debenture application money received for 10,000 debentures at Rs 25 including premium of Rs10 each transferred to debenture account) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Debenture Allotment A/c |
Dr. |
|
8,50,000 |
|
|
|
To Debentures A/c |
|
|
8,50,000 |
|
|
|
(Debentures allotment due on 10,000 Debentures at Rs 85 each) |
|
|
|
|
Cash Book
Dr. Cr.
|
Date |
Particulars |
L.F. |
Bank Rs |
Date |
Particulars |
L.F. |
Bank Rs |
|
|
Debenture Application |
|
2,50,000 |
|
|
|
|
|
|
Debenture Allotment |
|
8,50,000 |
|
|
|
|
|
|
Balance c/d |
|
11,00,000 |
||||
|
11,00,000 |
11,00,000 |
||||||
APPEARS IN
संबंधित प्रश्न
Short Answer Question
State the meaning of ‘Debentures issued as a Collateral Security.
Long Answer Question
Describe the meaning of ‘Debenture Issued as Collateral Securities’. What accounting treatment is given to the issue of debentures in the books of accounts?
Long Answer Question
Explain the different terms for the issue of debentures with reference to their redemption.
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Discount on issue of debentures is shown under the following head in the Balance Sheet?
Which of the following is true with regard to 10% Debentures issued at a discount of 20%?
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.
Pick the odd one out.
Interest on debentures is calculated on ______.
A company can issue debentures:
Which of the following is not a source of cash?
Premium received on issue of debentures may be utilised for:
X Ltd. had outstanding 20,000 12% debentures of Rs. 100 each redeemable on June 30, 2019. Record necessary journal entries at the time of redemption.
