Debentures Issue 47

Pass necessary journal entries for the issue of debentures in the books of YK Ltd.: (i)    Issued 500, 9% debentures of ₹1,000 each at par, redeemable at par. (ii)   Issued 20,00,000, 10% debentures at 6% discount, redeemable at par. (iii)  Issued 2,000, 8% debentures of ₹100 each at a discount of 2%, redeemable at … Read more

Debentures Issue 46

On 01.04.2021, Bain Ltd. purchased from Cayres Ltd., Machinery at ₹17,00,000 and Land and Building at ₹40,00,000. It also took over its liabilities amounting to ₹7,00,000. The purchase consideration of ₹60,00,000 was paid as follows: ₹5,00,000 through a cheque and the balance by issue of 9% debentures of 100 each at a premium of 10%. … Read more

Debentures Issue 45

On 01.04.2021, Aman Ltd. purchased from Kamal Ltd. Machinery ₹5,00,000, Furniture ₹3,00,000 and Land and Building ₹40,00,000. It also took over the sundry creditors of Kamal Ltd. of ₹8,00,000. The purchase consideration was ₹36,00,000. Payment to Kamal Ltd. was made by issue of 9% Debentures of ₹100 each at a discount of 10%. On 31.03.2022, … Read more

Debentures Issue 77

Health2Wealth Ltd. had share capital of ₹80,00,000 divided in shares of ₹100 each and 20,000, 8% Debentures of ₹100 each as part of capital employed. The company need additional funds of ₹55,00,000 for which they decided to issue debentures in such a way that they got required funds after issuing debentures of the same class … Read more

Debentures Issue 76

Anthony Ltd. issued 20,000, 9% Debentures of ₹100 each at 10% discount to Mithoo Ltd. from whom Assets of ₹23,50,000 and Liabilities of ₹6,00,000 were taken over. Pass entries in the books of Anthony Ltd. if these debentures were to be redeemed at 5% premium. Marks-3, CBSE:2022-23/Sample/Q-19* Answer : Back

Debentures Issue 75

Pass necessary journal entries for the following transactions relating to the issue of debentures: (a) Gagan Limited issued ₹10,00,000, 9% Debentures of ₹100 each at a premium of 5%, redeemable at par after four years. (b) KS Limited issued ₹10,00,000, 10% Debentures of ₹100 each at par, redeemable at 10% premium after four years. (c) … Read more

Debentures Issue 74

Shovan Limited took over the assets of ₹60,00,000 and liabilities of ₹10,00,000 from Swami Limited for an agreed purchase consideration of ₹45,00,000. The amount was payable by issuing 10% debentures of ₹100 each at 25% premium. Pass necessary journal entries for the above transactions in the books of Shovan Limited. Marks-3, CBSE:2022-23/Zone-1/Set-1/Q-19* Answer : Back

Debentures Issue 73

Pass necessary journal entries for the issue of debentures in the following cases: Issued ₹75,00,000, 9% debentures of ₹100 each at a premium of l0% redeemable at a premium of 5% after 3 years, Issued 8,000, 9% debentures of ₹100 each at a discount of 6% redeemable at a premium of 3% after 5 years. … Read more

Debentures Issue 72

On 1.4.2021 Y Ltd. invited applications for issuing 10,000, 9% debentures of ₹100 each at a discount of 6%. The entire amount was payable with application. Application for 12,000, 9% debentures were received. 9% debentures were allotted on pro-rata basis to all the applicants. Excess money received with applications was refunded. On 31.3.2022 the company … Read more

Debentures Issue 71

Sinco Ltd purchased assets of the book value of ₹1,98,000 from Dixon Ltd. It was agreed that the purchase consideration be paid by issuing 10% debentures of ₹100 each. Record the necessary journal, entries in the books of Sinco Ltd. assuming that the debentures have been issued: At a discount of 10%, At a premium … Read more

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