Q5

Q5 (Ii) A Debenture Issued At Rs 100 Repayable At Rs 105. (Iii)A Debenture Issued At Rs 105 Repayable At Rs 105 2. Mohit Ltd Took Over Assets Of Rs 8,40,()()() And Liabilities Of Rs 80,000 Of Ram Ltd At An Agreed Value Of Rs Mohit Ltd Paid To Ram Ltd By Issue Of 9% Debentures Of Rs 100 Each At A Premium Of 200/0.Pass Necessary Journal Entries To Record The Above Transactions In The Books Of Mohit Ltd. (Delhi 2009) 3. Sharma Ltd Bought The Business Of Verma Ltd On 1st April, 2007 Consisting Of Sundry Assets Of Rs And Creditors Rs 50,000. Rs 50,000 Was Paid In Cash On 3rd April, 2007 And For The Balance 6% Debentures Were Issued At A Premium Of 20% On 5th April, 2007. Pass Necessary Journal Entries In The Books Of Sharma Ltd For The Above Mentioned Transactions. 4. Pass The Necessary Journal Entry When 10,000 Debentures Of Rs 100 Each Are Issued As Collateral Security Against A Bank Loan Of 7 5.Beta Ltd Issued 5,000, 9% Debentures Of Rs 500 Each. Pass The Necessary Journal Entries For The Issue Of Debentures In The Books Of The Company In The Following Case. When Debentures Are Issued At A Premium Of 25% To The Vendors For Machinery Purchased For Rs A.Ltd. Issued 8% Debentures Of Rs. 100 At A Discount Of 6% On April 01, 000 Redeemable At Premium Of 4% By Draw Of Lots As Under: Debentures on March, 2002 Debentures On March, 2004 Debentures On March, 2005 Compute The Amount Of Discount To Be Written-Off In Each Year Till Debentures Are Paid. Also Prepare Discount/ Loss On Issue Of Debenture Account 1 The Books OfZ. Ltd.: