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प्रश्न
X.Ltd. purchased a Machinery from Y. Ltd. at an agreed purchase consideration of Rs. 4,40,000 to be satisfied by the issue of 12% debentures of Rs. 100 each at a premium of Rs 10 per debenture. Journalise the transactions.
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उत्तर
Books of X. Ltd.
Journal
|
Date |
Particulars |
L.F. |
Debit Amount Rs |
Credit Amount Rs |
|||
|
|
Machinery A/c |
Dr. |
|
4,40,000 |
|
||
|
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To Y. Ltd. |
|
|
4,40,000 |
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|
|
(Machinery purchased from Y. Ltd.) |
|
|
|
|||
|
|
Y. Ltd. |
Dr. |
|
4,40,000 |
|
||
|
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To 12% Debentures A/c |
|
|
4,00,000 |
|||
|
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To Securities Premium A/c |
|
|
40,000 |
|||
|
|
(Allotted 4,000 debentures of Rs. 100 each at a premium of Rs. 10 per debenture in consideration of Machinery purchased) |
|
|
|
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संबंधित प्रश्न
What is meant by the redemption of debentures by conversion?
How would you deal with ‘Premium on Redemption of Debentures’?
Describe the steps for creating a sinking fund for the redemption of debentures.
Can a company purchase its own debentures in the open market? Explain.
What is meant by the conversion of debentures? Describe the method of such a conversion.
What journal entries will be made in the following cases when company redeems debentures at the expiry of period by serving the notice: (a) when debentures were issued at par with a condition to redeem them at premium; (b) when debentures were issued at premium with a condition to redeem that at par; and (c) when debentures were issued at discount with a condition to redeem them at premium?
Convertible debentures cannot be issued at a discount if ______.
Profit on cancellation of own debentures is transferred to ______.
Which of the methods can be adopted to write off discount/loss on issue of debentures against the revenue profits?
Consider the following statements.
Statement 1 - "No DRR is required for debentures issued by All India Financial Institutions, regulated by RBI and Banking Companies for both public as well as privately placed debentures".
Statement 2 - DRR is required for debentures issued by All India Financial Institutions, regulated by RBI and Banking Companies for both public as well as privately placed debentures"
No Debenture Redemption Reserve is required for debentures issued by ______.
Shashi Ltd. decided to redeem its 8,000, 11% Debentures of ₹ 100 each at a premium of 10%. The minimum amount transferred to Debenture Redemption Reserve will be: (assume that the company is not listed)
If debentures purchased in the open market are not immediately cancelled, they are treated as:
Debentures can be redeemed out of:
Premium on Redemption of Debentures Account is a ______ Account.
Premium on Redemption of Debentures Account is a ______.
Premium on redemption of debentures is generally provided at the time of ______.
Sources of finance for the redemption of debentures are ______.
