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Problem.No.1
Excel Company Ltd., issued 30,000 debentures of Rs.50 each. The amount was payable as follows:
Rs.10 on application,
Rs.25/- on allotment,
Rs.10/- on first call and
Rs.5/- on final call
All the debentures were subscribed and the money duly received. Pass journal entries.
Problem.No.2
S Ltd., issued issued 2,00,000 debentures of Rs 10/- payable e Rs 2/- application, Rs 3, on allotment, Rs 3 /on fist call and balance on final call. The issue was fully subscribed. All the calls were made and money was
received on all the calls except the final call on 1,000 debentures.
Problem.No.3
The Hindustan Company Ltd issued 1,00,000 debentures of Rs 100/each. The amount was payable as
follows
Rs 3/- on application
Rs 3/- on allotment
Rs 2/- on first call and
Rs 2/- on final call
90,000 debentures were subscribed by the public. All the debentures were allotment and the money was
duly received. Pass the journal entries and prepare necessary ledger accounts.
ISSUE OF DEBENTURES AT PREMIUM
Problem.No.4
When irredeemable debentures issued for consideration in cash, for payments in installment
TATA Co. Ltd., issued 5,000 debentures of Rs 1,000 each a premium of Rs 100/each . The amount was
payable as follows:
Rs 250/- on application
Rs 600/- on allotment( including premium)
Rs 250/- on first and final call.
All the money received except on 200 debentures on first and final call. Give journal Entries
Problem.No.5
A company issued 20,000 12% debentures of Rs.10 each at a premium of Rs.2 payable as follows
Rs 2/- on application
Rs 5/- on allotment (including premium)
Rs 5/- on first and final call
All the debentures were subscribed and the money duly received. Pass necessary journal entries in the books
of the company.
ISSUE OF DEBENTURES AT DISCOUNT
Problem.No.6
A Company Ltd issued 10,000, 12 % debentures of Rs 100 each at a discount of Rs 10/-per . The amount
was payable as follows
Rs 20/- on application
Rs 40/- on allotment
Rs 30/- on first and final call
All the debentures were subscribed called up and paid up. Pass journal entries.
Problem.No.7
Carona Ltd., issued 10,000 Debentures o Rs 100 each for Rs 95 per debenture. Application money payable
was Rs 25/- and the balance was payable as follows on allotment Rs 40/-( after adjustment of discount
amount of Rs 5/-) on First Call Rs 15/- on Final Call Rs 15/- . Application were received for 9,500
debentures and the amounts were received when due except in the following instances:
A Who held 100 debentures did not pay the first call
B Who held 200 debentures paid the full balance due at the fist call stage
Give the journal entries in the books of the company including cash transactions.
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