Issue Of Debentures At Premium

During the year ended 31st March, 2019, Anderson Ltd. Issued 12% Debentures of ₹ 100 each, as per the details given below: (a) 900 Debentures issued as collateral security to a bank against a losnb of ₹ 60,000. (b) The underwriters were to be paicd a commission of ₹ 48,000. 25 % of the amount was paid to them in cash and the balance was paid by the issue of Debentures at a discount of 10% to be redeemed at par. A machine was purchased for ₹ 2, 18, 500. The vendor was paid by the issue of Debentures at a premium of 15% to be redeemed ar par. 5,000 Debetures ware issued to the pubic at 5% premium , to be redeemed at premium of 5% The company wrote off all capital losses arising from the issue of Debentures at the end of the year from its capital profits and if need be from its revenue profits. You are required to Journalise the above transctions in the books of Anderson Ltd.

Issue Of Debentures At Discount

On 1st April, 2015, Mathew Ltd. Issued 10,000, 9% Debentures of ₹ 100 each at a discount of 5%, redeemable at a premium of 5%. These debentures were redeemable as follows: {:("On31st March, 2016",,,,"2,000 Debentures,"),("On31st March, 2017",,,,"3,000 Debentures,"),("On31st March, 2018",,,,"3,000 Debentures,"):} prepare the Loss Issue of Debentures Account, Debentures Account and Premium on Redemption of Debentures Account for the three years.

Global ltd. issued 10,000, 8% Debentures of ₹ 100 each redeemable in four equal instalments by draw of lots from the end of 3 years at a premium of ₹9. Pass the Journal entries for writing off the Loss on Issue of Debentures. Also prepare Loss on Issue of Debentures Account .

Exe Ltd. Purchased assets of ₹ 8,40,000 and took over liabilities of ₹ 80,000 of Whe Ltd. at a value of ₹ 7,20,000. Exe Ltd. Issued 10% Debentures of ₹ 100 each at 10 % Discount in full satisfaction of the price. The company decided to weite off discount on Issue of Debentures from Securities Premium Reserve of ₹ 1,00,000. Pass Journal entries in the books of Exe Ltd.