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प्रश्न
The Balance Sheet of Anjum Ltd. as at 31st March 2022, had outstanding 1,000, 8% Debentures of ₹ 100 each. These debentures were to be redeemed by the company on 31st March 2023. Give the journal entry for the amount due to the Debenture holders on 31st March 2023, including the interest on debentures due to them.
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उत्तर
Outstanding Debentures = 1,000 of ₹ 100 each
= 1,000 × 100
= 1,00,000
Interest on debentures = `1,00,000xx8/100`
= ₹ 8,000
| Journal Entry | ||||
| Date | Particulars | L. F. | Dr. (₹) | Cr. (₹) |
| 2023 | ||||
| 31st March | 8% Debentures A/c ...Dr. | 1,00,000 | - | |
| Interest on Debentures A/c ...Dr. | 8,000 | - | ||
| To Debentureholders A/c | ||||
| (Being amount of debentures and interest thereon, made due to debentureholdets) |
- | 1,08,000 | ||
APPEARS IN
संबंधित प्रश्न
On 1st April, 2014, KK Ltd. invited applications for issuing 5,000 10% debentures of Rs 1,000 each at a discount of 6%. These debentures were repayable at the end of 3rd year at a premium of 10%. Applications for 6,000 debentures were received and the debentures were allotted on pro-rata basis to all the applicants. Excess money received with applications was refunded.
The directors decided to transfer the minimum amount to Debenture Redemption Reserve on 31.3.2016. On 1.4.2016, the company invested the necessary amount in 9% bank fixed deposit as per the provisions of the Companies Act, 2013. Tax was deducted at source by bank on interest @10% p.a.
Pass the necessary journal entries for issue and redemption of debentures. Ignore entries relating to writing off loss on issue of debentures and interest paid on debentures.
Raj Motors Ltd. converted its 400, 12% debentures of Rs 100 each issued at a discount of 6% into equity shares of Rs 10 each issued at a premium of 25%. Discount on issue of 12% debentures had not yet been written off.
Showing your working notes clearly, pass necessary journal entries for the above transactions in the books of Raj Motors Ltd.
Vishesh Ltd. issued 10,000, 10% Debentures of Rs 100 each on 1st April, 2012. The issue was fully subscribed. According to the terms of issue, interest on debentures is payable half-yearly on 30th September and 31st March and tax deducted at source is 10%.
Pass the necessary journal entries related to the debentures interest for the half-yearly ending on 31st March, 2013 and transfer of interest on debentures for the year to Statement of Profit and Loss.
Select most appropriate alternative from those given below :
The interest on debentures is transferred to __________.
Dinesh Ltd. Issued 10,00,000 6% Debentures on 1st April, 2010. Interest is paid on 30 sept., 2010 and 31st March, 2011.
Record necessary journal entries assuming that income tax is deducted at 30% of the amount of interest.
G. Ltd., a listed company, issued 75,00,000, 6% Debentures of Rs 50 each at par, payable Rs 15 on application and Rs 35 on allotment, redeemable at par after 7 years from the date of issue of the debenture. Record necessary entries in the books of the Company.
Y. Ltd. issued 2,000, 6% Debentures of Rs 100 each payable as follows: Rs 25 on application; Rs 50 on allotment and Rs 25 on the First and Final call. Record necessary entries in the books of the company.
A. Ltd. issued 4,000, 9% Debentures of Rs 100 each on the following terms:
Rs. 20 on Application;
Rs. 20 on Allotment;
Rs. 30 on First call; and
Rs. 30 on Final call.
The public applied for 4,800 Debentures. Applications for 3,600 Debentures were accepted in full. Applications for 800 Debentures were allotted 400 Debentures, and applications for 400 Debentures were rejected. All money called and duly received. Record necessary journal entries.
T. Ltd. offered 2,00,000, 8% debenture of Rs 500 each on June 30, 2014 at a premium of 10% payable as Rs 200 on application (including premium) and balance on allotment, redeemable at par after 8 years. But application are received for 3,00,000 debentures and the allotment is made on pro-rata basis. All the money due on application and allotment is received. Record necessary entries regarding issue of debentures.
On 1st April, 2021, Bhim Ltd. issued 2,000, 5% Debentures of ₹ 100 each as follows:
| (a) For cash at a discount of 5% | ₹ 80,000 (Nominal) |
| (b) To a vendor for ₹ 60,000 in satisfaction of his claim | ₹ 70,000 (Nominal) |
| (c) To Bankers for a loan of ₹ 40,000 as collateral security | ₹ 50,000 (Nominal) |
The interest on these debentures was to be paid annually on 31st March, every year, by the company.
You are required to calculate interest on these debentures payable by the company on 31st March, 2022.
