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    Issue of Dbe

    Uploaded by

    aryanmadnani50

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Issue of Dbe

    Uploaded by

    aryanmadnani50
    1 views1 page

    Original Title

    issue of dbe

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    1 views1 page

    Issue of Dbe

    Uploaded by

    aryanmadnani50

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 1

    DEBENTURES

    1. A co took over running business of B co having assets of Rs 1000000 and liabilities of Rs 170000.
    a) Issued 8000 8% debentures of Rs 100 each at 5% premium redeemable after 6 years at Rs 110
    b) Cheque for Rs 50000
    Pass necessary journal entries.
    2. A co issued 10000 9% debentures of Rs 100 each at a premium of 4% redeemable at a premium of
    Rs 15 per debenture after 3 years. Company had a balance of Rs 60000 in securities premium
    reserve. Pass necessary entries for issue and writing off loss on debenture.
    3. Mohit ltd took over assets of Rs 1080000 and liabilities of RS 80000 Of Asian ltd at an agreed
    value of Rs 1040000. Mohit ltd paid to Asian ltd 25% by cheque and balance by issue of 9%
    debenture of Rs 500 each at a premium of 4% redeemable at premium of Rs 30 per debenture.
    Pass necessary journal entries.
    4. Hi-tech ltd issued 10000 9% debentures of Rs 100each at 6% premium redeemable at 10%
    premium after 5 years payable as Rs 60 on application and balance on allotment. The debentures
    were oversubscribed by 1000 debentures and allotment was made on pro rata basis. All money as
    duly received.
    Pass necessary journal entries for issue and writing off loss on debentures.
    5. Apple orchards ltd purchased machinery for Rs 5000000 from beyond ltd. It paid the amount as
    follows
    a) Issued a cheque of Rs 1000000
    b) By taking loan of Rs 4000000 from bank
    Loan from bank was taken against collateral security of 50000 7% debentures of Rs 100 each
    Pass necessary journal entries and show presentation of debentures as collateral security in
    balance sheet of the company.
    6. Pass necessary journal entries
    a) Issued Rs 1000000 9% debentures of Rs 100 each at a premium of 5% redeemable at par
    b) Issued Rs 1000000 10% debentures of Rs 100 each at par redeemable at 10% premium.
    c) Issued Rs 1000000 9% debentures of Rs 100 each at a discount of 10% Redeemable at
    premium of 5%.
    d) Issued 830 7% debentures of Rs 100 each at 10% premium to be redeemed at 5% premium.
    7. Smart ltd took a loan of Rs 1000000 from state bank OF India and issued 15% Rs 1500000
    debentures of Rs 200 each as collateral security.
    Pass necessary journal entries if
    a) Company decided to record
    b) Company decided not to record
    8. Super furniture store ltd issued Rs 800000 9% debentures of Rs 100 each at premium of 10% to be
    redeemed at premium of 5%.
    Pass necessary journal entries for issue and write off of loss.
    Prepare 9% debentures account.
    Prepare loss on issue of debentures account.
    9. Chrome ltd took over assets of Rs 600000 and liabilities f Rs 40000 of polymer ltd for Rs 630000.
    Company issued 10% debentures of Rs 100 each at a discount of 10% for making payment to
    polymer ltd. Company had a balance of Rs 30000 in securities premium reserve.
    Pass necessary journal entries for issue and write off.
    10. Issued 3000 8% debentures of Rs 100 each at a discount of Rs 15000 redeemable at premium of
    10% after 3 years. Pass necessary entire and prepare loss on issue of debentures account.

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