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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.
On 1-4-2015 PVR Ltd. issued 750, 11% debentures of Rs 1,000 each at a discount of 5%, redeemable at a premium of 10% after three years. Interest on debentures is payable on 30th September and 31st March. PVR Ltd. closes its books on 31st March every year. The rate of tax deducted at source is 10%.
Pass necessary Journal Entries for the issue of debentures and the payment of interest for the year ended 31stMarch, 2016.
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.
Pass necessary journal entries in the following cases:
Kim India Ltd. converted 1,000, 9% debentures of Rs 100 each issued at a discount of 10% into equity shares of Rs 100 each issued at a premium of 25%.
Sonali Ltd. redeemed 6,000, 12% debentures of Rs 100 each which were issued at a discount of Rs 10 per debentures by converting them into equity shares of Rs 100 each, Rs 90 paid up.
Give the average period in months for charging interest on drawings for the same amount withdraws at the beginning of each quarter.
Answer in a sentence only.
What do you mean by ‘Debenture Interest’?
State to whether the following statement is True/False.
The rate of interest on debentures is attached to the debenture
A.Ltd. issued 10,000, 10% Debentures of Rs 100 each at a premium of 5% payable as follows:
Rs 10 on Application;
Rs 20 along with premium on allotment and balance on First and Final call. Record necessary Journal Entries.
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.
