Q. 50 DK Goel Issue of Debentures Solutions Class 12 CBSE (2024-25)
the solution of question number 50 of Issue of debentures chapter 7 of DK Goel Class 12 CBSE (2024-25)
Show by means of journal entries how would you record the following issues.
(I) A Ltd. issues ₹ 5,00,000, 13% Debentures at a discount of 8% redeemable at par.
(ii) B Ltd. issues ₹ 6,00,000, 12% Debentures at a discount of 6% redeemable at a premium of 7%.
(iii) C Ltd. purchased plant and machinery for ₹ 8,00,000 payable as to ₹ 2,30,000 in cash and the balance by an issue of 10% Debentures of ₹ 100 each at a discount of 5%.
(iv) D Ltd. issued 500, 11% Debentures of ₹ 100 each as a collateral security to a Bank who has advanced a loan of ₹ 45,000 to the Company for a period of 7 years.
(v) E Ltd. issued ₹ 2,20,000 Debentures to a creditor for ₹ 2,00,000 Capital Expenditure in satisfaction of his claim.
[Ans. In Case (iii) Number of Debentures issued 6,000; In Case (v) Discount on Debentures ₹ 20,000.]
Solution:-
