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प्रश्न
Tanagi Ltd. issued Rs 10,000 12% debentures of Rs 100 each at a discount of 5% Payable as follows:
On Application Rs 40
On Allotment Rs 55
Show journal entries assuming that all the installments were duly collected. Also show the relevant portion of the balance sheet.
उत्तर
Books of Tanagi Ltd.
Journal Entry
| Date | Particulars | L.F. | Debit Amount (Rs.) | Credit Amount (Rs.) |
| Bank A/c Dr. To Debenture Application A/c (Debenture application received on 10,000 12% Debentures of Rs 40 each) |
400,000 | 400,000 | ||
| Debenture Application A/c Dr. To 12% Debentures A/c (Debenture application money transferred to 12% Debenture A/c) |
400,000 | 400,000 | ||
|
Debenture Allotment A/c Dr. |
550,000 50,000 |
600,000 | ||
| Bank A/c Dr. To Debenture Allotment A/c (Debenture Allotment received on 10,000, 12% Debentures of Rs 55 each) |
550,000 | 550,000 |
Balance Sheet of Tanaji Ltd.
| Liabilities | Amount (Rs.) | Assets | Amount (Rs.) |
| Secured loans : 12% Debentures |
10,00,000 | Cash at Bank | 9,50,000 |
| Miscellaneous Exp. - Discount on Issue of Debentures | 50,000 | ||
| 10,00,000 | 10,00,000 | ||
Working Notes :
Face value of Debenture = Rs. 100
Discount ( 100 x 5% ) = Rs. 5
∴ Issue Price = Rs.95
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संबंधित प्रश्न
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