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प्रश्न
On 1st June, 2017, R Energy Ltd. issued 10,000, 7% Debentures of ₹ 100 each at a discount of 10% redeemable at a premium of 10% at the end of five years. All the debentures were subscribed and allotment was made.
Prepare the Balance Sheet (extract) as at 31st March, 2018.
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उत्तर
In the books of R Energy Ltd.
An Extract of Balance Sheet
As at 31st March, 2018
|
Particulars |
Note No. |
Amount |
| I. EQUITIES AND LIABILITIES |
|
|
| 1. Shareholders’ Funds |
|
|
| Reserves and Surplus |
3 |
(2,00,000) |
| 2. Non-Current Liabilities |
|
|
| a. Long-term Borrowings |
1 |
10,00,000 |
| b. Other long-term Liabilities |
2 |
1,00,000 |
| Total |
|
9,00,000 |
| II. Assets |
|
|
| Current Assets |
|
|
| Cash and Cash Equivalents |
4 |
9,00,000 |
| Total |
|
9,00,000 |
Notes to Accounts:
|
Note |
Particulars |
|
Amount (₹) |
| 1. | Long-term Borrowings |
|
|
| 10,000, 7% Debentures of ₹100 each issued at |
|
10,00,000 |
|
| 2. | Other long-term Liabilities |
|
|
| Premium on Redemption of Debentures |
|
1,00,000 |
|
| 3. | Reserves and Surplus |
|
|
| Statement of Profit & Loss |
|
|
|
| Less: Loss on Issue of Debentures written off |
(2,00,000) |
(2,00,000) |
|
| 4. | Cash and Cash Equivalents |
|
|
| On 7% debentures @ ₹ 90 each (10,000 × 90) |
9,00,000 |
||
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संबंधित प्रश्न
Short Answer Question
What is ‘Capital Reserve’?
Journalise the following:
(i) A debenture issued at Rs 95, repayable at Rs 100;
(ii) A debenture issued at Rs 95, repayable at Rs 105; and
(iii) A debenture issued at Rs 100, repayable at Rs 105;
The face value of debenture in each of the above cases is Rs 100.
B. Ltd. issued 1,000, 12% debentures of Rs 100 each on April 01, 2014 at a discount of 5% redeemable at a premium of 10%.
Give journal entries relating to the issue of debentures and debentures interest for the period ending March 31, 2015 assuming that interest is paid half yearly on September 30 and March 31 and tax deducted at source is 10%.
Vishwas Ltd. issued 2,000; 9% Debentures of ₹ 100 each payable as follows:
₹ 25 on application; ₹ 25 on allotment and ₹ 50 on first and final call.
Applications were received for all the debentures along with the application money did allotment was made . Call money was also received on the due date.
Pass necessary Journal entries in the books of the company.
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.
Iron Products Ltd. issued 5,000; 9% Debentures of ₹ 100 each at a premium of ₹ 40 payable as follows;
(i) ₹ 40 , including premium of ₹ 10 on applications;
(ii) ₹ 45, including premium of ₹ 15 on allotment ; and
(iii) Balance as first and final call.
The issue was subscribed and allotment made. Calls were made and due amount was received .
Pass Journal entries .
Alka Ltd . issued 5,000, 10% Debentures of ₹ 1,000 each at a discount of 10% redeemable at a premium of 5% after 5 years . According to the terms of issue ₹ 500 was payable on application and the balance amount on allotment of debentures. Record necessary entries regarding issue of 10% Debentures.
Newton Ltd. purchased a Machinery from B for ₹ 5,76,000 to be paid by the issue of 9% Debentures of ₹ 100 each at 4% discount. Journalise the trasactions.
Exe Ltd. purchased the assets of the book value ₹4,00,000 and took over the liabilities of ₹ 50,000 from Mohan Bros.It was agreed that the purchase consideration ,settled at ₹3,80,000 be paid by issuing debentures of ₹ 100 each.
Pass journal entries if debenture are issued:
(a) at par
(b) at a discount of 10% and
(c) at a premium of 10%.
It was agreed that any fraction of debentures be paid in cash.
XYZ Ltd.issued 5,000 , 10% Debentures of ₹ 100 each on 1st April, 2015 at a discount of 10% redeemable at a premium of 10% after 4 years. Give journal entries for the year ended 31st March, 2016, assuming that the interest was payable half-yearly on 30th September and 31st March. Tax is to be deducted @ 10%.
A limited company issued ₹ 1,00,000, 9% Debentures at a discount of 6% on 1st April, 2017. These debentures are to be redeemed equally, spread over 5 annual instalments.
Pass the Journal entries for issue of debentures and writing off the discount.
Fill in the blank.
For recording the issue of debentures as collateral security by a journal entry _______ account is debited.
When debentures are issued at a discount and are redeemable at a premium, which of the following accounts is debited at the time of issue?
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"
Debenture interest is paid as ______.
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.
Which of the following statement is true?
