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प्रश्न
X Ltd. redeemed 1,000 6% Debentures of Rs 100 each by converting them into equity shares of Rs 100 each. The 6% Debentures were redeemable at a premium of 5% for which the Equity shares were issued as a premium of 25%. Pass the necessary journal entries for the redemption of the above mentioned debentures in the books of X Ltd.
उत्तर
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Books of X Ltd. Journal |
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Date |
Particulars |
L.F. |
Debit Amount Rs |
Credit Amount Rs |
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6% Debentures A/c |
Dr. |
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1,00,000 |
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Premium on Redemption of Debentures A/c |
Dr. |
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5,000 |
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To Debentureholders |
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1,05,000 |
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(1,000 6% Debentures due for redemption) |
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Debentureholders |
Dr. |
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1,05,000 |
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To Equity Shares Capital A/c |
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84,000 |
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To Securities Premium A/c |
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21,000 |
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(840 equity shares of Rs 100 each issued at premium of Rs 25 to Debentureholders) |
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Notes
`"Number Of Sharese issued"= "Amount due to Debentureholders"/"(Face-value+Permium) per Share"`
=` (1,05,000)/(100+25)=840 "Shares"`
APPEARS IN
संबंधित प्रश्न
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Reason (R): Companies do not exhaust their authorised capital in the beginning but only a part of the authorised capital is issued for public subscription. Rest of the authorised capital is raised by the company in a phased manner depending on the need for funds.
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