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प्रश्न
X Ltd. redeemable 100, 6% Debentures of Rs 100 each by converting them into Equity Shares of Rs 100 each. The 6% Debentures were redeemable at 10% premium for which the Equity Shares were issued at 25% premium. Pass the necessary Journal entries for the redemption of above mentioned debentures in the books of X Ltd.
उत्तर
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Journal of Y Ltd. |
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Date |
Particulars |
L.F. |
Debit Amount Rs |
Credit Amount Rs |
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6% Debenture A/c |
Dr. |
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10,000 |
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Premium on Redemption of Debentures A/c |
Dr. |
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1,000 |
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To Debentureholders’ A/c |
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11,000 |
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(Being amount due to debentures holder) |
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Debenturesholders’ A/c |
Dr. |
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11,000 |
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To Equity Share Capital A/c |
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8,800 |
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To Securities Premium A/c |
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2,200 |
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(Issue of 88 shares of Rs 100 each at premium of 25%) |
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Notes
`"Number of equity Shares to be issue" ="Amount Payble"/"Issue Price"=(11,000)/(100+25)=11,000/125`
=`88 "shares"`
APPEARS IN
संबंधित प्रश्न
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