Give journal entries for the issue of debentures in the following conditions.
I. Issued 2,000, 12% debentures of Rs 100 each at par, redeemable also at par.
II. Issued 2,000, 12% debentures of Rs 100 each at a discount of 12% , redeemable at par.
III. Issued 2,000, 12% debentures of Rs 100 each at a premium of 5% , redeemable at par.
IV. Issued 2,000, 12% debentures of Rs 100 each at par but redeemable at 5% premium.
V. Issued 2,000, 12% debentures of Rs 100 each at a discount of 2% , redeemable at a premium of 5% .
VI. Issued 2,000, 12% debentures of Rs 100 each at a premium of 5% , redeemable at a premium of 10% .
Give journal entries for the issue of debentures in the following conditions.
I. Issued 2,000, 12% debentures of Rs 100 each at par, redeemable also at par.
II. Issued 2,000, 12% debentures of Rs 100 each at a discount of 12% , redeemable at par.
III. Issued 2,000, 12% debentures of Rs 100 each at a premium of 5% , redeemable at par.
IV. Issued 2,000, 12% debentures of Rs 100 each at par but redeemable at 5% premium.
V. Issued 2,000, 12% debentures of Rs 100 each at a discount of 2% , redeemable at a premium of 5% .
VI. Issued 2,000, 12% debentures of Rs 100 each at a premium of 5% , redeemable at a premium of 10% .
I JOURNAL
Date Particulars L.FDr (Rs)Cr. (Rs)Bank A/cDr2,00,000 To12% Debenture Application and Allotment A/c2,00,000(Application money received)12% Debenture Applciation and Allotment A/c Dr2,00,000 To 12% Debenture A/c2,00,000(Transfer of application money to Debentures Account,issued at par)
II JOURNAL
Date Particulars L.FDr (Rs)Cr. (Rs)Bank A/cDr1,76,000 To 12% Debenture Application and Allotment A/c1,76,000(Application money received)12% Debenture Applciation and Allotment A/c Dr1,76,000Discount on Issue of Debentures A/cDr24,000 To 12% Debenture A/c2,00,000(Transfer of application money to Debentures Account,issued at par)
III JOURNAL
Date Particulars L.FDr (Rs)Cr. (Rs)Bank A/cDr2,10,000 To 12% Debenture Application and Allotment A/c2,10,000(Application money received)12% Debenture Applciation and Allotment A/c Dr2,10,000 To 12% Debenture A/c2,00,000 To Securities Premium Reserve A/c10,000(Transfer of application money to Debentures Account,issued at a premium of 5%)
IV JOURNAL
Date Particulars L.FDr (Rs)Cr. (Rs)Bank A/cDr2,00,000 To 12% Debenture Application and Allotment A/c2,00,000(Application money received)12% Debenture Applciation and Allotment A/c Dr2,00,000Loss on issue of debentures A/cDr10,000 To 12% Debenture A/c2,00,000 To Premium on Redemption A/c10,000(Transfer of application money to Debentures Account,issued at par, but redeemable at a premium of 5%)
V JOURNAL
Date Particulars L.FDr (Rs)Cr. (Rs)Bank A/cDr1,96,000 To 12% Debenture Application and Allotment A/c1,96,000(Application money received)12% Debenture Applciation and Allotment A/c Dr1,96,000Loss on issue of debentures A/cDr14,000 To 12% Debenture A/c2,00,000 To Premium on Redemption A/c10,000(Transfer of application money to Debentures Account,issued at a discount of 2% and redeemable at a premium of 5%)
Note 1 : Loss on issue A/c has been debited by Rs14,000 by grouping together the discount on issue Rs 14,000 and premium on redemption Rs 10,000.
VI JOURNAL
Date Particulars L.FDr (Rs)Cr. (Rs)Bank A/cDr2,10,000 To 12% Debenture Application and Allotment A/c2,10,000(Application money received)12% Debenture Applciation and Allotment A/c Dr2,10,000Loss on issue of debentures A/cDr20,000 To 12% Debenture A/c2,00,000 To Securities Premium Reserve A/c10,000 To Premium on Redemption A/c20,000(Transfer of application money to Debentures Account issued at a premium of 5% and redeemable at a premium of 10%)
I JOURNAL
Date Particulars L.FDr (Rs)Cr. (Rs)Bank A/cDr2,00,000 To12% Debenture Application and Allotment A/c2,00,000(Application money received)12% Debenture Applciation and Allotment A/c Dr2,00,000 To 12% Debenture A/c2,00,000(Transfer of application money to Debentures Account,issued at par)
II JOURNAL
Date Particulars L.FDr (Rs)Cr. (Rs)Bank A/cDr1,76,000 To 12% Debenture Application and Allotment A/c1,76,000(Application money received)12% Debenture Applciation and Allotment A/c Dr1,76,000Discount on Issue of Debentures A/cDr24,000 To 12% Debenture A/c2,00,000(Transfer of application money to Debentures Account,issued at par)
III JOURNAL
Date Particulars L.FDr (Rs)Cr. (Rs)Bank A/cDr2,10,000 To 12% Debenture Application and Allotment A/c2,10,000(Application money received)12% Debenture Applciation and Allotment A/c Dr2,10,000 To 12% Debenture A/c2,00,000 To Securities Premium Reserve A/c10,000(Transfer of application money to Debentures Account,issued at a premium of 5%)
IV JOURNAL
Date Particulars L.FDr (Rs)Cr. (Rs)Bank A/cDr2,00,000 To 12% Debenture Application and Allotment A/c2,00,000(Application money received)12% Debenture Applciation and Allotment A/c Dr2,00,000Loss on issue of debentures A/cDr10,000 To 12% Debenture A/c2,00,000 To Premium on Redemption A/c10,000(Transfer of application money to Debentures Account,issued at par, but redeemable at a premium of 5%)
V JOURNAL
Date Particulars L.FDr (Rs)Cr. (Rs)Bank A/cDr1,96,000 To 12% Debenture Application and Allotment A/c1,96,000(Application money received)12% Debenture Applciation and Allotment A/c Dr1,96,000Loss on issue of debentures A/cDr14,000 To 12% Debenture A/c2,00,000 To Premium on Redemption A/c10,000(Transfer of application money to Debentures Account,issued at a discount of 2% and redeemable at a premium of 5%)
Note 1 : Loss on issue A/c has been debited by Rs14,000 by grouping together the discount on issue Rs 14,000 and premium on redemption Rs 10,000.
VI JOURNAL
Date Particulars L.FDr (Rs)Cr. (Rs)Bank A/cDr2,10,000 To 12% Debenture Application and Allotment A/c2,10,000(Application money received)12% Debenture Applciation and Allotment A/c Dr2,10,000Loss on issue of debentures A/cDr20,000 To 12% Debenture A/c2,00,000 To Securities Premium Reserve A/c10,000 To Premium on Redemption A/c20,000(Transfer of application money to Debentures Account issued at a premium of 5% and redeemable at a premium of 10%)
