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

Monjur Alahi

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 .


0 like 0 dislike
1 views
Share with your friends

1 Answers

Salim Ahmed Kawsar

Call

Correct Answer - Dr. Statement of Profit and Loss and Cr. Loss on Issue of Debentures A/c by ₹ 90,000.

0 like 0 dislike
1 views
Talk Doctor Online in Bissoy App
Prove that `^100 C_2^(100)C_2+^(100)C_2^(100)C_4+^(100)C_4^(100)C_6++^(100)C_(98)^(100)C_(100)=1/2[^(200)C_(98)-^(100)C_(49)]dot`

To find `S = .^(100)C_(0).^(100)C_(2)+.^(100)C_(2).^(100)C_(4)+.^(100)C_(4).^(100)C_(6)+"....."+.^(100)C_(98).^(100)C_(100)` Consider, `.^(100)C_(0).^(100)C_(2)+.^(100)C_(1).^(100)C_(3) + .^(100)C_(2).^(100)C_(4)+.^(100)C_(3)+.^(100)C_(5)+"...." + .^(100)C_(98).^(100)C_(100)` `= .^(100)C_(0).^(100)C_(98)+.^(100)C_(1).^(100)C_(97) + .^(100)C_(2).^(100)C_(96)+.^(100)C_(3).^(100)C_(95) + "....."+^(100)C_(98) .^(100)C_(0)` = Coefficients of `x^(98)` in `(1+x)^(100) (1+x)^(100)` `= .^(200)C_(98) " "(1)` Also,...

2 Answers 1 views
If debentures of Rs. 4,50,000 are issued to the sellers for the consideration of net assets of Rs. 5,00,000 balance Rs. 50,000

Correct option is: (A) Profit & Loss statement

2 Answers 1 views
Wellbeing Ltd. Took over assets of ₹ 9,80,000 and liabilities of ₹ 40,000 of HDR Ltd. At an agreed value of ₹ 9,00,000. Wellbeing Ltd. Paid to H

Correct Answer - (i) Dr. Sundry Assets A/c by ₹ 9,80,000, Cr. Sundry Liabilities A/c by ₹ 40,000; HDR Ltd by ₹ 9,00,000 and Capital Reserve A/c by ₹ 40,000....

2 Answers 1 views
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

Correct Answer - (i) year ended 31st March, 2016: Loss on issue of Debentues - ₹ 1,00,000 to be written off from Statement of Profit and Loss in the year...

2 Answers 24 views
Authorised capital of Suhani Ltd. is Rs. 45,00,000 divided into 30,000 shares of Rs. 150 each. Out of these company issued 15,000 shares of Rs. 150 ea

Correct Answer - Share Capital-Rs. 21,00,000.

2 Answers 1 views
Sugandh Ltd. issued 60,000 shares of Rs. 10 each at a premium of Rs. Per share payable as Rs. 3 on application, Rs. 5 (including premium) on allotment

Correct Answer - Amount received on allotment-Rs. 2,05,800.

2 Answers 7 views
Z Ltd. purchased furniture costing Rs. 2,20,000 from C.D Ltd. The payment was to be made by issue of 9% Preference Shares of Rs. 100 each at a premium

Correct Answer - 2,000; 9% Preference Shares to be issued.

2 Answers 1 views
Black Stone Ltd. issued 10,000 Equity Shares of Rs. 10 each at a premium of Rs. 3 per share payable Rs. 5 on application, Rs. 5 (including premium) on

Correct Answer - Forfeited Shares A/c-Rs. 1,000.

2 Answers 1 views
A share of Rs. 100 issued at a premium of Rs. 10 on which Rs. 80 (including premium ) was called and Rs. 60 (including premium) was paid, has been for

Correct Answer - Capital Reserve-Rs. 20.

2 Answers 1 views
Amrit Ltd. issued 50,000 shares of Rs. 10 each at a premium of Rs. 2 per share payable as Rs. 3 on application, Rs. 4 on allotment (including premium)

Correct Answer - Allotment money not paid by Sonu-Rs. 2,000; First call not paid by Sonu-Rs. 1,600; Capital Reserve-Rs. 3,600.

2 Answers 1 views
X