Debentures Issue 33

Journalise the following transactions a) Mehar Ltd. issued ₹ 1,00,000, 12% Debentures of ₹ 100 each at a premium of 5% redeemable at a premium of 2% b) 12 % Debentures were issued at a discount of 10% to a vendor of machinery for payment of ₹ 9,00,000 c) Issue of 10,000 11% debentures of … Read more

Debentures Issue 32

(i) On 1st April, 2019, Bright Ltd. issued Rs. 4,00,000, 6% Debentures of Rs. 100 each at a discount of 5%, redeemable after three years. The amount per debenture was payable as follows:  On Application – Rs. 80 per debenture On Allotment – Balance The debentures were fully subscribed and all money was duly received. … Read more

Debentures Issue 31

Pass the necessary journal entries for the issue of debentures for the following transactions : Anand Ltd. issued 800, 9% Debentures of Rs. 500 each at a premium of 20%, to the vendors for machinery purchased from them costing Rs. 4,80,000. Dawar Ltd. issued 5,000, 7% Debentures of Rs. 200 each at a premium of … Read more

Debentures Issue 30

Venus Ltd., is a real estate company. To discharge its corporate Social Responsibility, it decided to construct a night shelter for the homeless. The company took over assets of Rs.   10,00,000 and liabilities of Rs.   1,80,000 of Cayns Ltd. for Rs.   7,60,000. Venus Ltd. issued 9% Debentures of Rs.   100 each … Read more

Debentures Issue 28

Z Ltd. purchased machinery from K Ltd. Z Ltd. paid K Ltd as follows: (i) By issuing 5,000 equity shares of Rs.  10 each at a premium of 30%. (ii) By issuing 1000, 8% Debentures of Rs.  100 each at a discount of 10%. (iii) Balance by giving a promissory note of Rs.  48,000 payable … Read more

Debentures Issue 26

V K Limited purchased machinery from Modern Equipment Manufacturers Limited. The company paid the vendors by issue of some equity shares and debentures and the balance through an acceptance in their favour payable after three months. The accountant of the company, while Journalising the above mentioned transactions, left some items blank. You are required to … Read more

Debentures Issue 25

K K Limited obtained a loan of Rs. 10,00,000 from State Bank of India @ 9 % interest. The company issued Rs. 15,00,000, 9 % debentures of Rs. 100/- each, in favour of State Bank of India as collateral security. Pass necessary Journal entries for the above transactions: (i) When company decided not to record … Read more

Debentures Issue 24

S. Singh Limited obtained a loan of ₹ 5,00,000 from State Bank of India @ 10 % interest. The company issued ₹ 7,50,000, 10 % debentures of ₹ 100/- each, in favor of State Bank of India as collateral security. Pass necessary journal entries for the above transactions: When company decided not to record the … Read more

Debentures Issue 22

Pass necessary journal entries and prepare 9% Debentures Account for the issue of 7,500, 9% Debentures of Rs.  50 each at a discount of 6%, redeemable at a premium of 10%. Marks-3, CBSE:2018-19/Main/04/Q-10 Answer Previous Or Next Back