Advertisements
Advertisements
प्रश्न
On 1st April, 2025, Solar Power Ltd. issued 10,000, 8% Debentures of ₹ 100 each at a discount of 5% redeemable at a premium of 15% at the end of five years. All the debentures were subscribed and allotment was made.
The company had balance in Securities Premium of ₹ 80,000.
Prepare the Balance Sheet (extract) as at 31st March, 2026.
Advertisements
उत्तर
| In the books of Solar Power Ltd. An Extract of Balance Sheet As at 31st March, 2018 |
||
| Particulars | Note No. |
Amount (₹) |
| I. Equity and liabilities | ||
| 1. Shareholders’ Funds |
||
| Reserves and Surplus | 3 | (1,20,000) |
| 2. Non-Current Liabilities | ||
| a. Long-term Borrowings | 1 | 10,00,000 |
| b. Other long-term | 2 | 1,50,000 |
| II. Assets | ||
| Current Assets | ||
| Cash and Cash Equivalents | 4 | 9,50,000 |
Notes to Accounts:
| Note No. |
Particulars | Amount (₹) | Amount (₹) |
| 1. | Long-term Borrowings | ||
| 10,000, 8% Debentures of ₹100 each issued | 10,00,000 | ||
| 2. | Other long-term Liabilities | ||
| Premium on Redemption of Debentures | 1,50,000 | ||
| 3. | Reserves and Surplusc | ||
| Securities Premium Reserve | 80,000 | ||
| Less: Discount on Issue of Debentures | (50,000) | ||
| Less: Loss on Issue of Debentures written off | (30,000) | ||
| Statement of Profit and Loss | – | ||
| Less: Loss on Issue of Debentures written off | (1,20,000) | (1,20,000) | |
| 4. | Cash and Cash Equivalents | ||
| On 8% debentures @ ₹ 95 each (10,000 × 95) | 9,50,000 |
संबंधित प्रश्न
State the meaning of ‘Debentures issued as Collateral Security’.
What is meant by an ‘Irredeemable Debenture’?
Nipa Limited issued 10,000 Debentures of ₹ 100 each at a premium of 10%, payable 30% of nominal (facе) value on application (including premium) and the balance on allotment. The debentures were applied for and the amount was duly received.
You are required to give Journal entries and prepare Cash Book.
Vijay Laxmi Ltd. invited applications for 10,000; 12% Debentures of ₹ 100 each at a premium of ₹ 70 per debenture .The full amount was payable on application.
Applications were received for 13,500 debentures. Applications for 3,500 debentures were rejected and application money was refunded . Debentures were allotted to the remaining applications .
X Ltd . issued 12,000; 8% Debentures of ₹ 100 each at a discount of 5% payable as 25% on application;20% on allotment and balance after three months.
Pass Journal entries.
Romi Ltd. acquired assets of ₹ 20 lakhs and took over creditors of ₹ 2 lakhs from Kapil Enterprises.
Romi Ltd. issued 8% Debentures of ₹ 100 each at a discount of 10% as purchase consideration.
Record necessary journal entries in the books of Romi Ltd.
Green Ltd. purchased the assets of Strong Ltd. for ₹ 40,00,000 and took over liabilities of ₹ 7,00,000 for ₹ 32,40,000. Payment was made by issuing 10% Debentures of ₹ 100 each at a discount of 10%. Pass the necessary Journal entries in the books of Green Ltd.
On 1st April, 2025, V.V.L. Ltd. issued 1,000, 9% Debentures of ₹ 100 each at a discount of 6%, redeemable at a premium of 10% after three years. Pass necessary Journal entries for the issue of debentures and debenture interest for the year ended 31st March, 2026, if interest is payable on 30th September and 31st March. The company closes its books on 31st March every year.
[Hint: Amount received as Debentures Application and Allotment A/c = 1,000 × ₹ 94 = ₹ 94,000. Interest on 1,000 Debentures of ₹ 100 each for 6 months = ₹ 1,00,000 × 9/100 x 6/12 = ₹ 4,500.]
On 1st April, 2015. Mathew Ltd. issued 10,000, 9% Debentures of ₹ 100 each at a discount of 5%, redeemable at a premium of 5%. These debentures were redeemable as follows:
| On 31st March, 2016 | 2,000 Debentures; |
| On 31st March, 2017 | 5,000 Debentures; |
| On 31st March, 2018 | 3,000 Debentures. |
Prepare the Loss on Issue of Debentures Account, Debentures Account and Premium on Redemption of Debentures Account for three years.
Fill in the blank.
For recording the issue of debentures as collateral security by a journal entry _______ account is debited.
Debentures which are transferable by mere delivery are ______.
Discount on issue of debentures is shown under the following head in the Balance Sheet?
Excess value of net assets over purchase consideration at the time of purchase of business is credited to ______.
The word 'debenture' has been derived from which Latin word (which means to borrow)?
Which of the following situations are commonly found in practice during the issue and redemption of debentures?
Which of the following given statement is correct.
Statement 1 - "Debenture is written instrument acknowledging a debt under the common seal of the company"
Statement 2 - Debenture is oral instrument acknowledging a debt under the common seal of the company"
Which of the following is true with regard to 10% Debentures issued at a discount of 20%?
Interest on Debentures is a charge against ______.
