NCERT Solutions
Board Paper Solutions
Ask & Answer
School Talk
Login
GET APP
Login
Create Account
Popular
Latest
Arnapurna Paikaray
Subject: Accountancy
, asked on 14/3/18
Why we will not debit expenses in debenture account?
Answer
1
Ambareesh
Subject: Accountancy
, asked on 14/3/18
when debentures are converted without any quote of before maturity or after maturity , what is to be taken whether before maturity or after maturity ?
Answer
1
Tejasvita Goel
Subject: Accountancy
, asked on 13/3/18
journal enteries for own debetures purchased from open market
Answer
2
Indu Nair
Subject: Accountancy
, asked on 13/3/18
please explain 4th subdivision
(iv) 5,000; 10% debentures of Rs. 100 each issued at a discount of 5% and redeemable at par after 5 years were converted into 12% Debentures of Rs. 100 each issued as Rs. 80 paid-up.
Answer
4
Ambareesh
Subject: Accountancy
, asked on 13/3/18
d. purchased for cancellation of 2000 of its own debentures of rs.200 each @ rs.190 per debenture . the BOD have decided to transfer the required amount of debentures redemption reserve accounts . journalise
Answer
1
Indu Nair
Subject: Accountancy
, asked on 13/3/18
X Ltd. issued 10% Debentures of nominal value of Rs 10,00,000 as follows:
(i) To sundry persons for cash at par – Rs 5,00,000 nominal.
(ii) To a vendor for Rs 5,50,000 for purchase of fixed assets – Rs 5,00,000 nominal.
Pass Journal entries in the books of X Ltd.
Answer
2
Indu Nair
Subject: Accountancy
, asked on 13/3/18
T.S GREWAL volume 2 - pg.8.59)
Qn.44)the discount payable in total is 10,000.so if it is to be written off in the first year shouldn't 10,000/4 = 2,500 be written off ?why is 10,000 written off?
similar query for qn.45
Answer
2
Ipsita Chakravarty
Subject: Accountancy
, asked on 12/3/18
Kindly check question 35:
Q. 35. on 1st April, 2013, the following balances appeared in the books of jeet Ltd.:
9% Debentures (Redeemable on 31st March, 2015)
Rs. 30,00,000
Debenture Redemption Rserve Rs. 5,00,000
The Company met the requirments of companies Act, 2013 regarding debenture Redeption Reserve and Debenture Redeption Investments and redeemed the debentures Ignoring interest on investment pass necessary Journal entries for the above transaction in books of the company.
Answer
3
Ambareesh
Subject: Accountancy
, asked on 11/3/18
a company pays a fixed rate of interest in debentures issued for cash to the public . at what rate , will the interest be payable on debentures issued as collateral security ?
Answer
1
Arunima Jalali
Subject: Accountancy
, asked on 9/3/18
Please answer 7 ques all the parts have confusion in every part
Answer
1
Riya
Subject: Accountancy
, asked on 26/2/18
Question 7 and 8
Q7. On 1
st
April 2016, an existing firm had assets of Rs. 10,00,000 including cash of Rs. 20,000. Its creditors amounted to Rs. 50,000 on that date. The partner 's capital accounts showed a balance of Rs.8,00,000 while the reserve fund amounted to Rs. 1,50,000. If the normal rate of return is 15% and the goodwill of the firm is valued at Rs. 1,80,000 at 3 year's purchase of super profit, find the average profit of the firm.
Q8. Samsung Ltd. issued Rs. 20,00,000, 9% Debentures at a discount of 4% on April , 2015 redeemable at premium of 2% as under :
Rs. 6,00,000 Debentures on March 31, 2018
Rs. 8,00,000 Debentures on March 31, 2019
Rs. 6,00,000 Debentures on March 31, 20120
Compute the amount of discount to be written off in each year till debentures are paid. Also prepare loss on issue of debentures account for first two years.
Answer
1
Arnapurna Paikaray
Subject: Accountancy
, asked on 25/2/18
Solve this:
.
10
.
O
n
1
s
t
A
p
r
i
l
,
2013
.
X
L
t
d
.
i
s
s
u
e
d
10
,
000
,
12
%
D
e
b
e
n
t
u
r
e
s
o
f
R
s
100
e
a
c
h
a
t
R
S
95
e
a
c
h
r
e
d
e
e
m
a
b
l
e
a
t
a
p
r
e
m
i
u
m
o
f
2
%
a
f
t
e
r
7
y
e
a
r
s
o
r
e
a
r
l
i
e
r
a
t
t
h
e
o
p
t
i
o
n
o
f
c
o
m
p
a
n
y
b
y
c
o
n
v
e
r
s
i
o
n
i
n
t
o
E
q
u
i
t
y
S
h
a
r
e
s
o
f
R
s
20
e
a
c
h
a
t
a
p
r
e
m
i
u
m
o
f
R
s
5
p
e
r
s
h
a
r
e
.
O
n
1
s
t
A
p
r
i
l
2018
.
t
h
e
c
o
m
p
a
n
y
c
o
n
v
e
r
t
e
d
t
h
e
d
e
b
e
n
t
u
r
e
s
i
n
t
o
e
q
u
i
t
y
s
h
a
r
e
s
.
P
a
s
s
J
o
u
r
n
a
l
e
n
t
r
i
e
s
f
o
r
i
s
s
u
e
a
n
d
c
o
n
v
e
r
s
i
o
n
.
Answer
2
Riya Verma
Subject: Accountancy
, asked on 20/2/18
Why financial institutions and banks regulated under RBI are exempted from maintaining DRR and DRI?
Answer
2
Riya Verma
Subject: Accountancy
, asked on 20/2/18
If a debenture is redeemed by a company purchased by some investor then does it gets cancelled permanently after that? will the company be able to issues the same debenture to the other investor?
Answer
2
Riya Verma
Subject: Accountancy
, asked on 20/2/18
If a debenture is cancelled by a company purchased by some investor or itself by the company then will the company be able to issues the same debenture to the other investor?
Answer
2
1
2
3
4
5
Next
What are you looking for?
(iv) 5,000; 10% debentures of Rs. 100 each issued at a discount of 5% and redeemable at par after 5 years were converted into 12% Debentures of Rs. 100 each issued as Rs. 80 paid-up.
(i) To sundry persons for cash at par – Rs 5,00,000 nominal.
(ii) To a vendor for Rs 5,50,000 for purchase of fixed assets – Rs 5,00,000 nominal.
Pass Journal entries in the books of X Ltd.
Qn.44)the discount payable in total is 10,000.so if it is to be written off in the first year shouldn't 10,000/4 = 2,500 be written off ?why is 10,000 written off?
similar query for qn.45
Q. 35. on 1st April, 2013, the following balances appeared in the books of jeet Ltd.:
9% Debentures (Redeemable on 31st March, 2015) Rs. 30,00,000
Debenture Redemption Rserve Rs. 5,00,000
The Company met the requirments of companies Act, 2013 regarding debenture Redeption Reserve and Debenture Redeption Investments and redeemed the debentures Ignoring interest on investment pass necessary Journal entries for the above transaction in books of the company.
Q7. On 1st April 2016, an existing firm had assets of Rs. 10,00,000 including cash of Rs. 20,000. Its creditors amounted to Rs. 50,000 on that date. The partner 's capital accounts showed a balance of Rs.8,00,000 while the reserve fund amounted to Rs. 1,50,000. If the normal rate of return is 15% and the goodwill of the firm is valued at Rs. 1,80,000 at 3 year's purchase of super profit, find the average profit of the firm.
Q8. Samsung Ltd. issued Rs. 20,00,000, 9% Debentures at a discount of 4% on April , 2015 redeemable at premium of 2% as under :
Rs. 6,00,000 Debentures on March 31, 2018
Rs. 8,00,000 Debentures on March 31, 2019
Rs. 6,00,000 Debentures on March 31, 20120
Compute the amount of discount to be written off in each year till debentures are paid. Also prepare loss on issue of debentures account for first two years.