Amay Ltd. invited applications for issuing 10,000, 8% debentures of ₹100 each. The amount was payable as follows: ₹30 on application and ₹70 on allotment. The public applied for 12,000 debentures. Applications for 8,000 debentures were accepted in full; applications for 3,000 debentures were allotted 2,000 debentures and the remaining applications were rejected. All money … Read more
Radhey Ltd. took over assets of ₹14,00,000 and liabilities of ₹6,00,000 of Krishna Ltd. Radhey Ltd. paid the purchase consideration by issuing 10,000, 8% Debentures of ₹100 each at a premium of 10%. Pass necessary journal entries in the books of Radhey Ltd. Marks-3, CBSE:2021-22/Term-2/Zone-5/Set-1/Q-6* Answer : Back
B Ltd. purchased Building worth ₹3,00,000, Plant worth ₹2,80,000 and Furniture worth ₹20,000 from C Ltd. for a purchase consideration of ₹6,30,000. B Ltd. paid the purchase consideration by issuing 9% debentures of ₹100 each. Pass necessary journal entries in the books of B Ltd. for the acquisition of assets and issue of debentures when: … Read more
Pass necessary journal entries for the issue of Debentures in the following cases: (i) Y Ltd. issued ₹5,00,000, 9% Debentures of ₹100 each at par redeemable at a premium of 10% after three year (ii) Z Ltd. issued 4500, 9% Debentures of ₹100 each at a discount of 10% redeemable at a premium of 5% … Read more
X Ltd. invited applications for issuing 15,000 8% Debentures of ₹100 each. The amount was payable as follows: On Application……….₹ 20 per Debenture On Allotment………. Balance Applications for 30,000 Debentures were received. Applications for 5,000 Debentures were rejected and the application money was refunded to the applicants. Prorata allotment was made to the remaining applicants. … Read more
Pass necessary journal entries for the issue of debentures in the following Cases: (a) Issued 50,000, 9% debentures of Rs.100 each at par redeemable at par. (b) Issued 10,000, 8% debentures of Rs.100 each at 7% premium redeemable at par. (c) Issued 750, 8% debentures of Rs.100 each at 10% discount redeemable at par. (d) … Read more
Pass necessary journal entries in the books of Z Ltd. for the following transactions: (a) Z Ltd. invited applications for issuing 10,000, 9% debentures of ₹100 each at a premium of ₹10 per debenture. The full amount was payable on application. Applications were received for 15,000 debentures. Applications for 3,000 debentures were rejected and the … Read more
X Ltd. purchased assets of ₹18,00,000 and took over liabilities of ₹6,00,000 of Y Ltd. for a purchase consideration of ₹10,00,000. The payment to Y Ltd. was made by issue of 9% debentures of ₹100 each at ₹125. Calculate the number of 9% debentures issued in favour of Y Ltd. and pass the necessary journal … Read more
Pass the necessary journal entries in the books of Pankaj Limited for the issue of Debentures in the following cases: (a) Issued 7500, 10% Debentures of ₹100 each at a discount of ₹10,000 redeemable at a premium of 5%. (b) Issued 5000, 10% Debentures of ₹100 each at a premium of 10% redeemable at a … Read more
Khandelwal Ltd. took over assets of Sharma Ltd. of ₹25,00,000 and liabilities amounting to ₹7,80,000 for a purchase consideration of ₹27,00,000. The payment to Sharma Ltd. was made by issuing 10% Debentures of ₹100 each at a discount of 10%. Pass the necessary journal entries for the above transactions in the books of Khandelwal Ltd. … Read more