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प्रश्न
A Ltd . issued 2,000; 9% Debentures of ₹ 100 each on the following terms:
₹20 on applications ;₹ 20 on allotment ; ₹ 30 on first call ; ₹ 30 on final call.
The public applied for 2,400 debentures. Applications for 1,800 debentures were accepted in full. Applications for 400 debentures were allotted 200 debentures and applications for 200 debentures were rejected . Pass necessary Journal entries .
उत्तर
Books of A Ltd.
Journal
Date |
Particular |
L.F. |
Debit Amount Rs |
Credit Amount Rs |
|
|
Bank A/c |
Dr. |
|
48,000 |
|
|
To 9% Debenture Application A/c |
|
|
48,000 |
|
|
(Debenture application money received for 2,400 debentures at Rs 20 each) |
|
|
|
|
|
|
|
|
|
|
|
9% Debenture Application A/c |
Dr. |
|
48,000 |
|
|
To 9% Debentures A/c |
|
|
40,000 |
|
|
To 9% Debentures Allotment A/c |
|
|
4,000 |
|
|
To Bank A/c |
|
|
4,000 |
|
|
(Debenture application money transferred to 9% Debenture account for 2,000 Debenture, adjusted to Debenture Allotment account for 200 Debentures and money refunded for 200 debentures) |
|
|
|
|
|
|
|
|
|
|
|
9% Debenture Allotment A/c |
Dr. |
|
40,000 |
|
|
To 9% Debentures A/c |
|
|
40,000 |
|
|
(Debenture allotment money due on 2,000 debentures at Rs 20 each) |
|
|
|
|
|
|
|
|
|
|
|
Bank A/c |
Dr. |
|
36,000 |
|
|
To 9% Debentures Allotment A/c |
|
|
36,000 |
|
|
(Debenture allotment money received) |
|
|
|
|
|
|
|
|
|
|
|
Debenture First Call A/c |
Dr. |
|
60,000 |
|
|
To 9% Debentures A/c |
|
|
60,000 |
|
|
(Debenture first call money due on 2,000 9% debenture at Rs 30 each) |
|
|
|
|
|
|
|
|
|
|
|
Bank A/c |
Dr. |
|
60,000 |
|
|
To Debenture First Call A/c |
|
|
60,000 |
|
|
(Debenture first call money received) |
|
|
|
|
|
|
|
|
|
|
|
Debenture Final Call A/c |
Dr. |
|
60,000 |
|
|
To 9% Debentures A/c |
|
|
60,000 |
|
|
(Debentures final call money due on 2,000 9% Debentures at Rs 30 each) |
|
|
|
|
|
|
|
|
|
|
|
Bank A/c |
Dr. |
|
60,000 |
|
|
To Debenture Final Call A/c |
|
|
60,000 |
|
|
(Debenture final call received on 2,000 9% Debenture at Rs 30 each) |
|
|
|
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संबंधित प्रश्न
Short Answer Question
What is meant by ‘Issue of debentures for Consideration other than Cash’?
Short Answer Question
What is meant by ‘Issue of debenture at discount and redeemable at premium?
Short Answer Question
What is ‘Capital Reserve’?
Long Answer Question
How is ‘Discount on Issue of Debentures’ treated in the books of accounts? How will you deal with the ‘discount in issue of debentures’ when the debentures are to be redeemed in instalments?
A.Ltd. issued 50,00,000, 8% Debenture of Rs 100 at a discount of 6% on April 01, 2009 redeemable at premium of 4% by draw of lots as under:
20,00,000 Debentures on March, 2011
10,00,000 Debentures on March, 2013
20,00,000 Debentures on March, 2014
Compute the amount of discount to be written-off in each year till debentures are paid. Also prepare discount/loss on issue of debenture account.
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Pass Journal entries in the books of Deepak Ltd.
Pass necessary Journal entries relating to the issue of debentures for the following:
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(b) ₹ 70,000; 12% Debentures of ₹ 100 each issued at a premium of 5% redeemable at ₹ 110.
On 1st January, 2017, Raha Ltd. issued 6,000, 8% Debentures of nominal (face) value of ₹ 100 each redeemable at 5% premium in equal proportions at the end of 5, 10 and 15 years. It has a balance of ₹ 10,000 in Securities Premium Reserve.
Pass Journal entries. Also give Journal entries for writing off Loss on Issue of Debentures.
Debentures which are transferable by mere delivery are ______.
Which of the following situations are commonly found in practice during the issue and redemption of debentures?
Premium on redemption is shown under which head until debentures are redeemed?
Which of the following is true with regard to 10% Debentures issued at a discount of 20%?
Debentures are considered as ______ equity.
Loss on issue of debentures is treated as ______.
Premium received on issue of debentures may be utilised for writing off:
MK Ltd. has outstanding Rs. 30,000 11% debentures of Rs. 100 each redeemable at 10% premium as follows:
March 31, 2018 - | 10,000 debentures |
March 31, 2019 - | 12,000 debentures |
March 31, 2020 - | Remaining debentures |
Pass necessary journal entries in the books of the company.
XYZ Ltd. Issued 6,000, 12% Debentures of ? 50 each on April 1, 2014. Interest on these debenture is payable annually 3151 March each year. The debentures are redeemable in four equal installments at end of third, fourth, fifth and sixth year. You are required to pan journal entries at the time of issue and redemption of debentures in the books of the company under following cases:
- Debentures are issued at par and redeemable at par.
- Debentures are issued at a premium of 10% and redeemable at par.
- Debentures are issued at a discount of 10% and redeemable at par.
- Debenture are issued at par but redeemable at a premium of 10%.
- Debentures are issued at a premium of 10% and redeemable at premium of 10%.
- Debenture are issued at a discount of 10% and redeemable at a premium of 10%.