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प्रश्न
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.
उत्तर
Books of Newton Ltd.
Journal
|
Date |
Particulars |
L.F. |
Debit Amount Rs |
Credit Amount Rs |
|
|
|
Machinery A/c |
Dr. |
|
5,76,000 |
|
|
|
To B |
|
|
5,76,000 |
|
|
|
(Machinery purchased from B) |
|
|
|
|
|
|
|
|
|
|
|
|
|
B |
Dr. |
|
5,76,000 |
|
|
|
Discount on Issue of Debenture A/c |
Dr. |
|
24,000 |
|
|
|
To 9% Debenture A/c |
|
|
6,00,000 |
|
|
|
(Issued 6,000 debentures at 4% discount) |
|
|
|
|
Working Note :
No.of. debentures to be issued=
`"Purchase Consideration" / "Issue Price" = 576000/ (100 - 4) = 576000/96 = 6000 "debetures"`
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संबंधित प्रश्न
Short Answer Question
What is meant by ‘Issue of debenture at discount and redeemable at premium?
Short Answer Question
What is ‘Capital Reserve’?
Short Answer Question
What is meant by an ‘Irredeemable Debenture’?
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You are required to give Journal entries and prepare Cash Book.
Amrit Ltd . was promoted by Amrit and Bhaskar with an authorised capital of ₹ 10,00,000 divide into 1,00,000 shares of ₹ 10 each.
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Pass journal entry.
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(b) at a discount of 10% and
(c) at a premium of 10%.
It was agreed that any fraction of debentures be paid in cash.
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 necessary Journal entries for the issue of Debentures in the following cases:
(a) ₹ 40,000; 15% Debentures of ₹ 100 each issued at a discount of 10% redeemable at par.
(b) ₹ 80,000; 15% Debentures of ₹ 100 each issued at a premium of 10% redeemable at a premium of 10%.
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 .
Which of the following given statement is correct.
Statement 1 - "Shares cannot be converted into debentures whereas debentures can be converted into shares"
Statement 2 - "Shares can be converted into debentures whereas debentures cannot be converted into shares"
A debenture is a ______.
The loss on issue of Debentures is written-off from ______.
Debentures are considered as ______ equity.
Interest on Debentures is a charge against ______.
Assertion (A): Debentures saves income tax.
Reason (R): Interest on debenture is tax deductible expenditure.
