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प्रश्न
Footfall Ltd. issues 10,000 Debentures of ₹ 100 each at a discount of 10% redeemable at a premium of 5% after the expiry of three years.
Pass Journal entries for the issue of these debentures.
उत्तर
Books of Footfall Ltd.
Journal
|
Date |
Particulars |
L.F. |
Debit Amount Rs |
Credit Amount Rs |
|
|
|
Bank A/c |
Dr. |
|
9,00,000 |
|
|
|
To Debenture Application A/c |
|
|
9,00,000 |
|
|
|
(Debenture application money received for 10,000 debentures at Rs 90 each) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Debenture Application A/c |
Dr. |
|
9,00,000 |
|
|
|
Discount on Issue of Debenture A/c |
Dr. |
|
1,00,000 |
|
|
|
Loss on issue of Debentures A/c |
Dr. |
|
50,000 |
|
|
|
To Debentures A/c |
|
|
10,00,000 |
|
|
|
To Premium on Redemption A/c |
|
|
50,000 |
|
|
|
(10,000 Debentures of Rs 100 each issued at 10% discount with the term repayable at 5% redemption) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Debentures A/c |
Dr. |
|
10,00,000 |
|
|
|
Premium on Redemption A/c |
Dr. |
|
50,000 |
|
|
|
To Debentureholders’ A/c |
|
|
10,50,000 |
|
|
|
(Debentures due for redemption along with premium on redemption) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Debentureholders’ A/c |
Dr. |
|
10,50,000 |
|
|
|
To Bank A/c |
|
|
10,50,000 |
|
|
|
(Amount due for redemption paid to debenture holders) |
|
|
|
|
APPEARS IN
संबंधित प्रश्न
Short Answer Question
State the meaning of ‘Debentures issued as a Collateral Security.
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 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 .
ABC Ltd. issued 40,000; 10% Debentures of ₹ 100 each at par for cash payable in full along with the application. Applications were received for 60,000 debentures . Debentures were allotted and excess application money was refunded. Pass Journal entries in the books of the company.
Alka Ltd . issued 5,000, 10% Debentures of ₹ 1,000 each at a discount of 10% redeemable at a premium of 5% after 5 years . According to the terms of issue ₹ 500 was payable on application and the balance amount on allotment of debentures. Record necessary entries regarding issue of 10% Debentures.
Romi Ltd. acquired assets of ₹ 20 lakhs and took over creditors of ₹ 2 lakhs from Kapil Enterprises.
Romi Ltd. issued 8% Debentures of ₹ 100 each at a discount of 10% as purchase consideration.
Record necessary journal entries in the books of Romi Ltd.
Journalise the following:
(a) A debenture issued at ₹95, repayable at ₹ 100.
(b) A debenture issued at ₹95, repayable at ₹ 105.
(c) A debenture issued at ₹95, repayable at ₹ 105.
The face value of debenture is ₹ 100 in each of the above cases.
Pass journal entries in the following cases:
(a) A Co.Ltd. issued ₹40,000; 12% Debentures at a premium of 5% redeemable at par.
(b) A Co.Ltd. issued ₹40,000; 12% Debentures at a discount of 10% redeemable at par.
(c) A Co.Ltd. issued ₹40,000; 12% Debentures at par redeemable at 10% premium.
(d) A Co.Ltd. issued ₹40,000; 12% Debentures at a discount of 5% and redeemable at 5% premium.
(e) A Co.Ltd. issued ₹40,000; 12% Debentures at a premium of 10% redeemable at 110%.
Bright Ltd. issued 5,000; 10% Debentures of ₹ 100 each on 1st April, 2015 . The issue was fully subscribed . According to the terms of issue, interest on the debentures is payable half-yearly on 30th September and 31st March and the tax deducted at source is 10%.
Pass necessary journal entries related to the debenture interest for the year ending 31st March , 2016 and transfer of interest on debentures of the year to the Statement of Profit and Loss .
On 1st June, 2017, R Energy Ltd. issued 10,000, 7% Debentures of ₹ 100 each at a discount of 10% redeemable at a premium of 10% at the end of five years. All the debentures were subscribed and allotment was made.
Prepare the Balance Sheet (extract) as at 31st March, 2018.
Discount on issue of debentures is shown under the following head in the Balance Sheet?
Premium on redemption is shown under which head until debentures are redeemed?
The debentures are issued with a specified rate of interest, which is called the coupon rate are known as which types of debentures?
Which of the following is true with regard to 10% Debentures issued at a discount of 20%?
Rehana, Shakina and Jasmine are partners. They share When debentures are issued as collateral security, the final entry for recording the transaction in the books is ______.
When the debenture of face value of ₹ 100 is issued at ₹ 100 is called, issue off debenture at ______.
Pick the odd one out.
Which of the following is false with respect to debentures ?
Premium received on issue of debentures may be utilised for writing off:
