Q5. X Ltd. Issued 5,000, 12 % Debentures of Rs. 100 each at a premium of Rs. 5 payables as follows: The chapter contains a lot of questions which can be very helpful for Class 12 commerce students of Accountancy and will also help build strong concepts which will be really helpful in your career. These solutions are free and will help you to prepare for Class 12 Accountancy. Just scroll down and read through the answers provided below Company Accounts Issue of Debentures DK Goel Class 12 Accountancy Solutions To do that, together with my expert team, we crafted an opulent 53-year-old blend, one of the highest ages we have ever released. You have extracted the following information from the accounting records and examination working papers. Based on the above and the result of your examination, determine the following as of December 31, 2020:

g) The adjusted net income for 2020 after all necessary adjustments affecting 2020 net income was at P2,600,000. i) Issued Rs. 4,00,000, 9% debentures of Rs. 100 each at a premium of 8% redeemable at 10% premium. They also offer immediate tax relief if you are making a personal contribution, which builds up over time and can make a significant difference to your final pot. a) Journalise the following transactions at the time of issue of debentures: Nandan Ltd. Rs. 90,000, 12% debentures of Rs. 100 each as a discount of 5% redeemable at 110%.

Other

Example:- If a debenture of Rs. 100 is issued at Rs. 100 and is redeemable at Rs. 105, the following entries will be passed: Optimise Media Limited (FRN 313408) for the introduction of the First Direct Current Account, LV= Pet Insurance and LV= Asda Breakdown. Optimise Media Limited are authorised and regulated by the Financial Conduct Authority to provide credit brokering and general insurance activity. Optimise Media is registered in England and Wales to Exchange Street Buildings, 35-37 Exchange Street, Norwich, England, NR2 1DP and company number 04455319 b is an integer and is the power of 10 required so that the product of the multiplication in standard form equals the original number LifeSearch Partners Limited (FRN 656479), for the introduction of Pure Protection Contracts, who are authorised and regulated by the FCA to provide advice and arrange Pure Protection Contracts. LifeSearch Partners Ltd is registered in England and Wales to 3000a Parkway, Whiteley, Hampshire, PO15 7FX, company number 03412386.

First Method:- No entry in the company’s accounts must be transferred in this manner, since the debentures are not officially released, but rather provided as collateral protection. As for the taking of a loan entry as passed only:— While the property market might not look all too inviting for investors right now, Mr Brown has his own reasons for why he wants to become a landlord.

Examples of Long Division Calculations

f. On May 16, 2020, a special dividend of preference share was distributed to ordinary shareholders. One hundred shares of ordinary share entitled Q10. X Ltd. issued Rs. 2,00,000, 12% debentures of Rs. 100 each at a discount of 6% but repayable after 8 years at a premium of 5%. Pass journal entry for the issue. Lenders will want to know how you spend your money as part of an affordability assessment. You are likely to get questions about: Oversubscription of debentures suggests that the firm has collected more debenture applications than it has published. In such a case, any of the following three options or combinations can be assigned by the company:

On February 1, 2020, 8,500 common shares were issued according to the subscription contract. Because of default by a subscrib er, 1, Q10. Golden ltd. Bought assets for Rs. 50,00,000 and assumed liabilities worth Rs. 1,26,00,000 from Silver ltd. And issued 8% debentures of Rs. 500 each at a premium of 6%. Record necessary entries in the books of Golden Ltd. If Mr Brown’s planned retirement in 15 to 20 years is set in stone, and he stops working at 53, then he really doesn’t have many options other than to invest. Property would put all his eggs in one basket – or a few very similar ones; whereas, with investing you can make changes and diversify much more easily.Note that we do not remove the trailing 0 because it was originally to the right of the decimal and is therefore a DK Goel Class 12 Accountancy Company Accounts Issue of Debentures, One of the ways of raising capital is by issuing debentures to the public. This helps the companies in various types of financial needs including the expansion of the business. the students should understand what are debentures and why are they issued by various companies. In this chapter, the students will understand the basics of the issue of debentures and also the related accounting entries which have to be passed whenever the company issues fresh debentures in the market.