X Limited Issued 10,000 , 12% debentures...

X Limited Issued 10,000 , 12% debentures of Rs 100 each payable Rs 40 on appication and Rs 60 on allotment. The public applied for 14000 debenturs. Application for 9000,debentrues were accepted in full, applications for 2000 debentures wsere allotted 1000 debentures and the remaining applications, weree rejected. All money was duly recieved .Journalise the transactions

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A Ltd. Issued 2,000, 9% Debentures of 100 each on the following terms: â‚¹ 20 on application, â‚¹ 20 on allotment, â‚¹ 30 on first call, â‚¹ 30 on final call. The Public applied for 2,400 debentures, Application for 1,800 debentures were accapted in full Application for 400 debentures were allotted 200 debentures and applications for 200 debentures were rejected. Pass necessary Journal entries.

Nav Lakshmi Ltd . Invited application for 3,000, 125 Debentures of â‚¹ 100 each at a premium of â‚¹ 50 per debenture. Full amount was payable o n application. Applications were received for 4,000 debentures,. Applications for 1,000 debentures were rejected and application money wes refunded. Debentures were allotted to the remaining applications. Pass necessary Journal enteries for the above transactions in the books of Nav Lakshmi Ltd.

Vijay Laxmi Ltd. Invited applicatins for 10,000, 12% Debentures of â‚¹ 100 each at a premium of â‚¹ 70 per debentures. The full amount was payable on application. Application were received for 13,500 debentures. Applications for 3,500 debentures were rejected and application money was refunded, Debentures were allotted to the remaining applications. Pass necesseary Journal entries in the books of vijay Laxmi Ltd. for the above trnasactions.

(Issue of Shares, Oversubscribed- Rejecting the Excess Applications). Good Co. Ltd. invited applications for 1,00,000 shares of Rs. 10 each payable: Rs. 3 on application , Rs. 3 on allotment and the balance when required . 1,20,000 shares were applied for. Applications were accepled for 1,00,000 shares and remaining applications were rejected . Allotment money was received on 99,500 shares. Pass Journal entries in the books of Good Co. Ltd.

Citizen Watches Ltd. invited applications for 50,000 shares of Rs. 10 each payable Rs. 3 on application, Rs. 4 on allotment and balance on first and final call. Applications were received for 60,000 shares. Applications were accepted for 50,000 shares and remaining applications were rejected. All calls were made and received except First and Final call on 500 shares. Pass the Journal entries in the books of Citizen Watches Ltd.

Honey Ltd . Issued 10,000, 9% Debentures of â‚¹ 100 each for subscription, payable â‚¹ 60 on applicaton and balance on allotment. Subcription was received for 9,000 debentures. Allotment was made and due amount was received . Pass the Journal entries for issue and allotment of debentures.

NCERT-ISSUE AND REDEMPTION OF DEBENTURES-Illustration

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