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प्रश्न
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.
उत्तर
| In the books of MK limited | ||||
| Date | Particulars | L.F. | Dr. (₹) | Cr. (₹) |
| 2017 | ||||
| Apr. 30 | Debenture Redemption Investment A/c ...Dr. | 1,50,000 | ||
| To Bank A/c | 1,50,000 | |||
| (Being amount invested) | ||||
| 2018 | ||||
| Mar. 31 | 11% Debenture A/c ...Dr. | 10,00,000 | ||
| Premium on redemption A/c ...Dr. | 1,00,000 | |||
| To Debenture holder | 11,00,000 | |||
| (Being amount transferred to debenture holder) | ||||
| Mar. 31 | Debenture holder A/c ...Dr. | 11,00,000 | ||
| To Bank A/c | 11,00,000 | |||
| (Being amount paid to debenture holder) | ||||
| Apr. 30 | Debenture Redemption Investment A/c ...Dr. | 30,000 | ||
| To Bank A/c | 30,000 | |||
| (Being received amount invested) | ||||
| 2019 | ||||
| Mar. 31 | 11% Debenture A/c ...Dr. | 12,00,000 | ||
| Premium on redemption A/c ...Dr. | 1,20,000 | |||
| To Debenture holder A/c | 13,20,000 | |||
| (Being amount transfer to debenture holder) | ||||
| Mar. 31 | Debenture holder A/c ...Dr. | 13,20,000 | ||
| To Bank A/c | 13,20,000 | |||
| (Being amount paid to debenture holder) | ||||
| Apr. 30 | Bank A/c ...Dr. | 60,000 | ||
| To Debenture Redemption Investment | 60,000 | |||
| (Being investment sold) | ||||
| 2020 | ||||
| Mar. 31 | Bank A/c ...Dr. | 1,20,000 | ||
| To Debenture Redemption Investment | 1,20,000 | |||
| (Being investment sold) | ||||
| Mar. 31 | 11% Debenture A/c ...Dr. | 8,00,000 | ||
| Premium on redemption | 80,000 | |||
| To Debenture holder A/c | 8,80,000 | |||
| (Being amount transfer to debenture holder) | ||||
| Mar. 31 | Debenture holder A/c ...Dr. | 8,80,000 | ||
| To Bank A/c | 8,80,000 | |||
| (Being amount paid to debenture holder) | ||||
APPEARS IN
संबंधित प्रश्न
Vijay Laxmi Ltd. invited applications for 10,000; 12% Debentures of ₹ 100 each at a premium of ₹ 70 per debenture .The full amount was payable on application.
Applications were received for 13,500 debentures. Applications for 3,500 debentures were rejected and application money was refunded . Debentures were allotted to the remaining applications .
Wye Ltd . purchased an established business for ₹ 2,00,000 payable as ₹ 65,000 by cheque and the balance by issuing 9% Debentures of ₹ 100 each at a discount of 10%.
Give journal entries in the books of Wye Ltd.
Newton Ltd. purchased a Machinery from B for ₹ 5,76,000 to be paid by the issue of 9% Debentures of ₹ 100 each at 4% discount. Journalise the trasactions.
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%.
Journalise the following transaction at the time of issue of 12% Debentures:
Nandan Ltd. issued ₹90,000, 12% Debentures of ₹ 100 each at a discount of 5% redeemable at 110%.
XYZ Ltd.issued 5,000 , 10% Debentures of ₹ 100 each on 1st April, 2015 at a discount of 10% redeemable at a premium of 10% after 4 years. Give journal entries for the year ended 31st March, 2016, assuming that the interest was payable half-yearly on 30th September and 31st March. Tax is to be deducted @ 10%.
On 1st April, 2017, Solar Power Ltd. issued 10,000, 8% Debentures of ₹ 100 each at a discount of 5% redeemable at a premium of 15% at the end of five years. All the debentures were subscribed and allotment was made. The company had balance in Securities Premium Reserve of ₹ 80,000.
Prepare the Balance Sheet (extract) as at 31st March, 2018.
Fill in the blank.
For recording the issue of debentures as collateral security by a journal entry _______ account is debited.
Loss on Issue of Debenture Account is shown:
Debenture interest is paid as ______.
Debenture holders are ______.
Debentures are considered as ______ equity.
Debenture premium cannot be used to ______.
Loss on issue of debentures is treated as ______.
Which of the following is false with respect to debentures ?
A company can issue debentures:
Which of the following is not a source of cash?
X Ltd. had outstanding 20,000 12% debentures of Rs. 100 each redeemable on June 30, 2019. Record necessary journal entries at the time of redemption.
