Bhim Ltd issued 20,000, 9% debentures of Rs. 50 each at a discount of 8%, redeemable at par at any time after 9
years. Record journal entry in the books of Bhim Ltd for transferring debentures application money to debenture
account.
(a) Debenture Application and Allotment A/C Dr. 9,20,000
Discount on Issue of Debentures A/C Dr. 80,000
To 9% Debentures A/C 10,00,000
(b) Debenture Application A/C Dr. 9,20,000
To 9% Debentures A/C 9,20,000
(c) Debenture Application A/c Dr. 9,20,000
Loss on Issue of Debentures A/C Dr. 1,80,000
To 9% Debentures A/C 10,00,000
To Premium on Redemption of Debentures A/c 1,00,000
d None of the above
Answers
Answer:
Cheque Rs. 500 deposited into the bank was
not collected & credited till 31st March.
2.
Cheque issued for Rs. 300 was not presented
to the bank for payment till 31-3 - 16.
3.
Interest credited by bank 30 Rs2.13 The Bank column showed a debit balance of Rs. 2000
on 31st March 2016. On reconciling the following facts
were noticed :
4
1.
Cheque Rs. 500 deposited into the bank was
not collected & credited till 31st March.
2.
Cheque issued for Rs. 300 was not presented
to the bank for payment till 31-3 - 16.
3.
Interest credited by bank 30 Rs.balance of Rs. 2000
on 31st March 2016. On reconciling the following facts
were noticed :
4
1.
Cheque Rs. 500 deposited into the bank was
not collected & credited till 31st March.
2.
Cheque issued for Rs. 300 was not presented
to the bank for payment till 31-3 - 16.
3.
Answer:
2.13 The Bank column showed a debit balance of Rs. 2000
on 31st March 2016. On reconciling the following facts
were noticed :
4
1.
Cheque Rs. 500 deposited into the bank was
not collected & credited till 31st March.
2.
Cheque issued for Rs. 300 was not presented
to the bank for payment till 31-3 - 16.
3.
Interest credited by bank 30 Rs.