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प्रश्न
X.Ltd. purchased a Machinery from Y for 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 |
|
||
|
|
To Y |
|
|
4,40,000 |
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|
|
(Machinery purchased from Y) |
|
|
|
|||
|
|
Y |
Dr. |
|
4,40,000 |
|
||
|
|
To 12% Debentures A/c |
|
|
4,00,000 |
|||
|
|
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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|
|
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संबंधित प्रश्न
Short Answer Question
How would you deal with ‘Premium on Redemption of Debentures’?
Short Answer Question
Under which head is the ‘Debenture Redemption Reserve’ shown in the Balance Sheet?
Long Answer Question
Differentiate between redemption of debentures out of capital and out of profits.
Long Answer Question
Describe the steps for creating Sinking Fund for redemption of debentures.
Long Answer Question
What is meant by 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?
Krishna Ltd. had outstanding 20,000, 9% debentures of ₹ 100 each on 1st April 2014. These debentures were redeemable at a premium of 10% in two equal installments starting from 31st March 2018. The company had a balance of ₹ 4,00,000 in Debenture Redemption Reserve on 31st March 2017. Pass necessary journal entries for the redemption of debentures in the books of Krishna Ltd. for the year ended 31st March 2018.
Convertible debentures cannot be issued at a discount if ______.
Own debentures are those debentures of the company which ______.
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"
Give the necessary journal entries at time of redemption of debentures
"X Ltd. issued 500, 9% debentures of Rs.100 each at par and redeemable at par at the end of 5 years out of capital."
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 ______.
What is the nature of Premium on Redemption of Debenture Account?
