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प्रश्न
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%.
उत्तर
(a)
Journal
|
Date |
Particulars |
L.F. |
Debit Amount Rs |
Credit Amount Rs |
||
|
|
Bank A/c |
Dr. |
|
36,000 |
|
|
|
|
To Debenture Application A/c |
|
|
|
36,000 |
|
|
|
(400 debentures issued at Rs 100 at discount of 10%) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Debenture Application A/c |
Dr. |
|
36,000 |
|
|
|
|
Discount on Issue of Debentures A/c |
Dr. |
|
4,000 |
|
|
|
|
To 15% Debenture A/c |
|
|
|
40,000 |
|
|
|
(400 debentures issued at discount and redeemable at a par ) |
|
|
|
|
|
(b)
Journal
|
Date |
Particulars |
L.F. |
Debit Amount Rs |
Credit Amount Rs |
||
|
|
Bank A/c |
Dr. |
|
88,000 |
|
|
|
|
To Debenture Application A/c |
|
|
|
88,000 |
|
|
|
(800 debentures issued at Rs 100 at a premium of 10%) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Debenture Application A/c |
Dr. |
|
88,000 |
|
|
|
|
Loss on Issue of Debentures A/c |
Dr. |
|
8,000 |
|
|
|
|
To 15% Debenture A/c |
|
|
|
80,000 |
|
|
|
To Premium on Redemption A/c |
|
|
|
8,000 |
|
|
|
To Securities Premium A/c |
|
|
|
8,000 |
|
|
|
(800 debentures issued at a premium of 10% and redeemable at a premium of 10%) |
|
|
|
|
|
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संबंधित प्रश्न
Long Answer Question
Explain the different terms for the issue of debentures with reference to their redemption.
Journalise the following:
(i) A debenture issued at Rs 95, repayable at Rs 100;
(ii) A debenture issued at Rs 95, repayable at Rs 105; and
(iii) A debenture issued at Rs 100, repayable at Rs 105;
The face value of debenture in each of the above cases is Rs 100.
Vishwas Ltd. issued 2,000; 9% Debentures of ₹ 100 each payable as follows:
₹ 25 on application; ₹ 25 on allotment and ₹ 50 on first and final call.
Applications were received for all the debentures along with the application money did allotment was made . Call money was also received on the due date.
Pass necessary Journal entries in the books of the company.
Nipa Limited issued ₹ 10,00,000 Debentures of ₹ 100 each at a premium of 10% , payable 25% on application (including premium) and the balance on allotment . The debentures were applied for and the amount was dully received.
You are required to give Journal entries and prepare Cash Book.
Alok Ltd. issued 7,000, 10% Debentures of ₹ 500 each at a premium of ₹ 50 per debenture redeemable at a premium of 10% after 5 years. According to the terms of issue, ₹ 200 was payable on application and balance on allotment.
Record necessary Journal entries at the time of issue of 10% Debentures.
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 .
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 premium of 25% as purchase consideration.
Record necessary journal entries in the books of Romi Ltd.
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.
Wellbeing Ltd. took over assets of ₹ 9,80,000 and liabilities of ₹ 40,000 of HDR Ltd. at an agreed value of ₹ 9,00,000. Wellbeing Ltd. paid to HDR Ltd. by issue of 9% Debentures of ₹ 100 each at a premium of 20%. Pass necessary Journal entries to record the above transactions in the books of Wellbeing Ltd.
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%.
When debentures are issued at a discount and are redeemable at a premium, which of the following accounts is debited at the time of issue?
A debenture is a ______.
Loss on Issue of Debenture Account is shown:
Debenture interest is paid as ______.
Which of the following is true with regard to 10% Debentures issued at a discount of 20%?
Debentures are considered as ______ equity.
Assertion (A): Issue of debenture does not result in dilution of interest of equity shareholders.
Reason (R): Debenture holders have voting rights.
Discount on issue of debentures is a ______
Loss on issue of debentures is treated as ______.
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.
