Solve 45 and 46

Q45. Oberoi Ltd. took certain fixed assets for Rs.6, 30,000 from Vikram Ltd. and allotted 6,000, 12% Debentures at a premium of 5% to satisfy the purchase consideration. The Company then issued a prospectus inviting the public to subscribe to 20,000, 11% Debentures of Rs.100 each at a discount of 2%, Payable as Rs. 35 on application, Rs.23 on allotment and the balance on first and final call.

        Applications were received for 16,000 debentures only. All the applications were accepted and money received except first and final call on 100 debentures. Prepare the Cash Book and the Journal.

     [Ans. Cash at Bank Rs. 15,64,000. Amount received on allotment Rs. 3,68,000 and on First Call Rs.6,36,000.]

Q46. A company took a loan of Rs. 5,00,000 from State Bank of India and issued 10% debentures of Rs.8,00,000 of Rs.100 each as a collateral security. Explain how will you deal with issue of debentures in the books of company.
                                                                                                     [C.B.S.E. Sample Paper 2010, Set II )