Accounting for Debenture|OLD is GOLD|Account
ISSUED AT PAR, REDEMPTION AT DISCOUNT
2065 Q.No. 12
Journal Entries
|
Particular |
Debit |
Credit |
|
Bank a/c Dr To 8% debenture (Being issue of 8% debenture at par) |
300000 |
300000 |
|
8% debenture a/c Dr To discount on issue of
debenture a/c To bank a/c (Being redemption of 8% debenture at 5% discount) |
300000 |
15000 285000 |
ISSUED AT PAR, REDEMPTION AT PREMIUM
2075 Q.No. 12
Journal Entries
|
Particular |
Debit |
Credit |
|
Bank a/c Dr Loss on the issue of deb. a/c Dr To 10% debenture To premium on redemption
of deb. (Being 10% debenture issued at par) |
400000 40000 |
400000 40000 |
|
10% debenture a/c Dr Premium on redemption of debt. a/c Dr To bank (Being redemption of 10% debenture at 10% premium) |
400000 40000 |
440000 |
2073 supp. Q.No. 12
Journal Entries
|
Particular |
Debit |
Credit |
|
Bank a/c Dr Discount on issue of deb. a/c Dr Loss on the issue of deb. a/c Dr To 10% debenture To premium on redemption
of deb. (Being 10% debenture issued at discount) |
190000 10000 20000 |
200000 20000 |
|
10% debenture a/c Dr Premium on redemption of debt. a/c Dr To bank (Being redemption of 10% debenture at 10% premium) |
200000 20000 |
220000 |
2072 Set E Q. No. 12
Journal Entries
|
Particular |
Debit |
Credit |
|
Bank a/c Dr Loss on the issue of deb. a/c Dr To 10% debenture To premium on redemption of debt. (Being 10% debenture issued at par) |
1000000 50000 |
1000000 50000 |
|
10% debenture a/c Dr Premium on redemption of debt. a/c Dr To bank (Being redemption of 10% debenture at a premium) |
1000000 50000 |
1050000 |
2072 Supp. Q. No. 12
Journal Entries
|
Particular |
Debit |
Credit |
|
Bank a/c Dr Loss on the issue of deb. a/c Dr To 7% debenture To premium on redemption
of deb. (Being 7% debenture issued at par) |
4000000 200000 |
4000000 200000 |
|
7% debenture a/c Dr Premium on redemption of debt. a/c Dr To bank (Being redemption of 7% debenture at a premium) |
4000000 200000 |
4200000 |
2071 Supp. Q. No. 12
Journal Entries
|
Particular |
Debit |
Credit |
|
Bank a/c Dr Loss on the issue of deb. a/c Dr To 10% debenture To premium on redemption
of deb. (Being 10% debenture issued at par) |
200000 10000 |
200000 10000 |
|
10% debenture a/c Dr Premium on redemption of debt. a/c Dr To bank (Being redemption of 10% debenture at a premium) |
200000 |
10000 210000 |
2070 Set D Q. No. 12
Journal Entries
|
Particular |
Debit |
Credit |
|
Bank a/c Dr Loss on the issue of deb. a/c Dr To 8% debenture To premium on redemption
of deb. (Being 8% debenture issued at par) |
1200000 120000 |
1200000 120000 |
|
8% debenture a/c Dr Premium on redemption of debt. a/c Dr To bank (Being redemption of 8% debenture at a premium) |
1200000 120000 |
1320000 |
2066 (C) Q. No. 12
Journal Entries
|
Particular |
Debit |
Credit |
|
Bank a/c Dr Loss on the issue of deb. a/c Dr To 10% debenture To premium on redemption
of deb. (Being 10% debenture issued at par) |
100000 5000 |
100000 5000 |
|
10% debenture a/c Dr Premium on redemption of debt. a/c Dr To bank (Being redemption of 10% debenture at a premium) |
100000 5000 |
105000 |
2066 Q. No. 12
Journal Entries
|
Particular |
Debit |
Credit |
|
Bank a/c Dr Loss on the issue of deb. a/c Dr To 10% debenture To premium on redemption
of deb. (Being 10% debenture issued at par) |
600000 30000 |
600000 30000 |
|
10% debenture a/c Dr Premium on redemption of debt. a/c Dr To bank (Being redemption of 10% debenture at a premium) |
600000 30000 |
630000 |
2066 Q. No. 12
Journal Entries
|
Particular |
Debit |
Credit |
|
Bank a/c Dr Loss on the issue of deb. a/c Dr To 10% debenture To premium on redemption
of deb. (Being 10% debenture issued at par) |
600000 30000 |
30000 600000 |
|
10% debenture a/c Dr Premium on redemption of debt. a/c Dr To bank (Being redemption of 10% debenture at a premium) |
600000 30000 |
630000 |
2066 Supp. Q. No. 12
Journal Entries
|
Particular |
Debit |
Credit |
|
Bank a/c Dr Loss on the issue of deb. a/c Dr To 8% debenture To premium on redemption
of deb. (Being 8% debenture issued at par) |
150000 7500 |
150000 7500 |
|
8% debenture a/c Dr Premium on redemption of debt. a/c Dr To bank (Being redemption of 8% debenture at a premium) |
150000 6500 |
157500 |
2065 Q. No. 4 (OLD)
Journal Entries
|
Particular |
Debit |
Credit |
|
Bank a/c Dr Loss on the issue of deb. a/c Dr To 12% debenture To premium on redemption
of deb. (Being 12% debenture issued at par) |
100000 10000 |
100000 10000 |
|
12% debenture a/c Dr Premium on redemption of debt. a/c Dr To bank (Being redemption of 12% debenture at a premium) |
100000 10000 |
110000 |
ISSUED AT DISCOUNT, REDEMPTION AT PAR
2072 Supp. Q. No. 12
Journal Entries
|
Particular |
Debit |
Credit |
|
Bank a/c Dr Discount on issue of deb. a/c Dr To 10% debenture (Being 10% debenture issued at Discount) |
900000 100000 |
1000000 |
|
10% debenture a/c Dr To bank (Being redemption of 10% debenture at par) |
1000000 |
1000000 |
2074 Set A Q. No. 12
Journal Entries
|
Particular |
Debit |
Credit |
|
Bank a/c Dr Discount on issue of deb. a/c Dr To 10% debenture (Being 10% debenture issued at Discount) |
475000 25000 |
500000 |
|
10% debenture a/c Dr To bank (Being redemption of 10% debenture at par) |
500000 |
500000 |
2070 Set C Q. No. 12
Journal Entries
|
Particular |
Debit |
Credit |
|
Bank a/c Dr Discount on issue of deb. a/c Dr To 7% debenture (Being 7% debenture issued at Discount) |
1350000 150000 |
1500000 |
|
7% debenture a/c Dr To bank (Being redemption of 7% debenture at par) |
1500000 |
1500000 |
2068 Supp. Q. No. 12
Journal Entries
|
Particular |
Debit |
Credit |
|
Bank a/c Dr Discount on issue of deb. a/c Dr To 10% debenture (Being 10% debenture issued at Discount) |
180000 20000 |
200000 |
|
10% debenture a/c Dr To bank (Being redemption of 10% debenture at par) |
200000 |
100000 |
ISSUED AT DISCOUNT, REDEMPTION AT PREMIUM
2076 Set B Q. No. 12
Journal Entries
|
Particular |
Debit |
Credit |
|
Bank a/c Dr Discount on issue of deb. a/c Dr Loss on the issue of deb. a/c Dr To 10% debenture To premium on redemption
of deb. (Being 10% debenture issued at discount) |
720000 8000 40000 |
800000 40000 |
|
10% debenture a/c Dr Premium on redemption of debt. a/c Dr To bank (Being redemption of 10% debenture at a premium) |
800000 40000 |
840000 |
2076 Set C Q. No. 12
Journal Entries
|
Particular |
Debit |
Credit |
|
Bank a/c Dr Discount on issue of debt. a/c Loss on the issue of deb. a/c Dr To 10% debenture To premium on redemption
of deb. (Being 10% debenture issued at discount) |
450000 50000 25000 |
500000 25000 |
|
10% debenture a/c Dr Premium on redemption of debt. a/c Dr To bank (Being redemption of 10% debenture at a premium) |
500000 25000 |
525000 |
2076 Set B Q. No. 12
Journal Entries
|
Particular |
Debit |
Credit |
|
Bank a/c Dr Discount on issue of debt. a/c Loss on the issue of deb. a/c Dr To 10% debenture To premium on redemption
of deb. (Being 10% debenture issued at discount) |
285000 15000 30000 |
300000 30000 |
|
10% debenture a/c Dr Premium on redemption of debt. a/c Dr To bank (Being redemption of 10% debenture at a premium) |
300000 30000 |
330000 |
2074 Supp Q. No. 12
Journal Entries
|
Particular |
Debit |
Credit |
|
Bank a/c Dr Discount on issue of debt. a/c Loss on the issue of deb. a/c Dr To 10% debenture To premium on redemption
of deb. (Being 10% debenture issued at discount) |
1900000 100000 200000 |
2000000 200000 |
|
10% debenture a/c Dr Premium on redemption of debt. a/c Dr To bank (Being redemption of 10% debenture at a premium) |
2000000 200000 |
2200000 |
2074 Set B Q. No. 12
Journal Entries
|
Particular |
Debit |
Credit |
|
Bank a/c Dr Discount on issue of debt. a/c Loss on the issue of deb. a/c Dr To 10% debenture To premium on redemption
of deb. (Being 10% debenture issued at discount) |
190000 10000 20000 |
200000 20000 |
|
10% debenture a/c Dr Premium on redemption of debt. a/c Dr To bank (Being redemption of 10% debenture at a premium) |
200000 20000 |
220000 |
2073 Set C Q. No. 12
Journal Entries
|
Particular |
Debit |
Credit |
|
Bank a/c Dr Discount on issue of debt. a/c Loss on the issue of deb. a/c Dr To 10% debenture To premium on redemption
of deb. (Being 10% debenture issued at discount) |
950000 50000 50000 |
1000000 50000 |
|
10% debenture a/c Dr Premium on redemption of debt. a/c Dr To bank (Being redemption of 10% debenture at a premium) |
1000000 50000 |
1050000 |
2072 Set C Q. No. 12
Journal Entries
|
Particular |
Debit |
Credit |
|
Bank a/c Dr Discount on issue of debt. a/c Loss on the issue of deb. a/c Dr To 10% debenture To premium on redemption
of deb. (Being 10% debenture issued at discount) |
180000 20000 20000 |
200000 20000 |
|
10% debenture a/c Dr Premium on redemption of debt. a/c Dr To bank (Being redemption of 10% debenture at a premium) |
200000 20000 |
220000 |
2072 Set D Q. No. 12
Journal Entries
|
Particular |
Debit |
Credit |
|
Bank a/c Dr Discount on issue of debt. a/c Loss on the issue of deb. a/c Dr To 5% debenture To premium on redemption
of deb. (Being 5% debenture issued at discount) |
450000 50000 50000 |
500000 50000 |
|
5% debenture a/c Dr Premium on redemption of debt. a/c Dr To bank (Being redemption of 5% debenture at a premium) |
500000 50000 |
550000 |
2071 Set C Q. No. 12
Journal Entries
|
Particular |
Debit |
Credit |
|
Bank a/c Dr Discount on issue of debt. a/c Loss on the issue of deb. a/c Dr To 10% debenture To premium on redemption
of deb. (Being 10% debenture issued at discount) |
4750000 250000 500000 |
5000000 500000 |
|
10% debenture a/c Dr Premium on redemption of debt. a/c Dr To bank (Being redemption of 10% debenture at a premium) |
5000000 500000 |
5500000 |
2071 Set D Q. No. 12
Journal Entries
|
Particular |
Debit |
Credit |
|
Bank a/c Dr Discount on issue of debt. a/c Loss on the issue of deb. a/c Dr To 10% debenture To premium on redemption
of deb. (Being 10% debenture issued at discount) |
90000 10000 10000 |
100000 10000 |
|
10% debenture a/c Dr Premium on redemption of deb. a/c Dr To bank (Being redemption of 10% debenture at a premium) |
100000 10000 |
110000 |
2070 Supp. Q. No. 12
Journal Entries
|
Particular |
Debit |
Credit |
|
Bank a/c Dr Discount on issue of debt. a/c Loss on the issue of deb. a/c Dr To 10% debenture To premium on redemption
of deb. (Being 10% debenture issued at discount) |
190000 10000 20000 |
100000 20000 |
|
10% debenture a/c Dr Premium on redemption of deb. a/c Dr To bank (Being redemption of 10% debenture at a premium) |
100000 20000 |
120000 |
2069 Supp. Set A Q. No. 12
Journal Entries
|
Particular |
Debit |
Credit |
|
Bank a/c Dr Discount on issue of debt. a/c Loss on the issue of deb. a/c Dr To 10% debenture To premium on redemption
of deb. (Being 10% debenture issued at discount) |
450000 50000 100000 |
500000 10000 |
|
10% debenture a/c Dr Premium on redemption of deb. a/c Dr To bank (Being redemption of 10% debenture at a premium) |
500000 10000 |
510000 |
2069 (Set B) Q. No. 12
Journal Entries
|
Particular |
Debit |
Credit |
|
Bank a/c Dr Discount on issue of debt. a/c Loss on the issue of deb. a/c Dr To 12% debenture To premium on redemption
of deb. (Being 12% debenture issued at discount) |
360000 40000 20000 |
400000 20000 |
|
12% debenture a/c Dr Premium on redemption of deb. a/c Dr To bank (Being redemption of 12% debenture at a premium) |
400000 20000 |
420000 |
2067 Supp. Q. No. 12
Journal Entries
|
Particular |
Debit |
Credit |
|
Bank a/c Dr Discount on issue of debt. a/c Loss on the issue of deb. a/c Dr To 15% debenture To premium on redemption
of deb. (Being 15% debenture issued at discount) |
900000 10000 5000 |
100000 5000 |
|
15% debenture a/c Dr Premium on redemption of deb. a/c Dr To bank (Being redemption of 15% debenture at a premium) |
100000 5000 |
105000 |
2064 Supp. Q. No. 12
Journal Entries
|
Particular |
Debit |
Credit |
|
Bank a/c Dr Discount on issue of debt. a/c Loss on the issue of deb. a/c Dr To 10% debenture To premium on redemption
of deb. (Being 10% debenture issued at discount) |
900000 10000 5000 |
100000 5000 |
|
10% debenture a/c Dr Premium on redemption of deb. a/c Dr To bank (Being redemption of 10% debenture at a premium) |
100000 5000 |
105000 |
2062 Q. No. 4
Journal Entries
|
Particular |
Debit |
Credit |
|
Bank a/c Dr Discount on issue of debt. a/c Loss on the issue of deb. a/c Dr To 10% debenture To premium on redemption
of deb. (Being 10% debenture issued at discount) |
900000 10000 5000 |
100000 5000 |
|
10% debenture a/c Dr Premium on redemption of debt. a/c Dr To bank (Being redemption of 10% debenture at a premium) |
100000 5000 |
105000 |
2061 Q. No. 4
|
Particular |
Debit |
Credit |
|
Bank a/c Dr Discount on issue of debt. a/c Loss on the issue of debt. a/c Dr To 10% debenture To premium on redemption
of debt. (Being 10% debenture issued at discount) |
95000 5000 10000 |
100000 10000 |
|
10% debenture a/c Dr Premium on redemption of debt. a/c Dr To bank (Being redemption of 10% debenture at a premium) |
100000 10000 |
110000 |
2060 Q. No. 4
Journal Entries
|
Particular |
Debit |
Credit |
|
Bank a/c Dr Discount on issue of debt. a/c Loss on the issue of debt. a/c Dr To 10% debenture To premium on redemption
of debt. (Being 10% debenture issued at discount) |
45000 5000 2500 |
50000 2500 |
|
10% debenture a/c Dr Premium on redemption of debt. a/c Dr To bank (Being redemption of 10% debenture at a premium) |
50000 2500 |
52500 |
2060 Supp. Q. No. 4
Journal Entries
|
Particular |
Debit |
Credit |
|
Bank a/c Dr Discount on issue of debt. a/c Loss on the issue of debt. a/c Dr To 10% debenture To premium on redemption
of debt. (Being 10% debenture issued at discount) |
950000 50000 25000 |
100000 25000 |
|
10% debenture a/c Dr Premium on redemption of debt. a/c Dr To bank (Being redemption of 10% debenture at a premium) |
1000000 25000 |
1025000 |
ISSUED AT PREMIUM, REDEMPTION AT PAR
2073 Set D Q. No. 12
Journal Entries
|
Particular |
Debit |
Credit |
|
Bank a/c Dr To premium on issue of
debt. To 10% debenture (Being 10% debenture issued at a premium) |
550000 |
50000 500000 |
|
10% debenture a/c Dr To bank (Being redemption of 10% debenture at par) |
550000 |
550000 |
ISSUED AT PREMIUM, REDEMPTION AT DISCOUNT
2068 Q. No. 12
Journal Entries
|
Particular |
Debit |
Credit |
|
Bank a/c Dr To premium on issue of
debt. a/c To 10% debenture (Being 10% debenture issued at Premium) |
1050000 |
50000 1000000 |
|
10% debenture a/c Dr To discount on redemption
of debt. To bank (Being redemption of 10% debenture at Discount) |
1000000 |
50000 950000 |
ISSUED AT PREMIUM, REDEMPTION AT PREMIUM
2069 (Set A) Q. No. 12
Journal entries
|
Particular |
Debit |
Credit |
|
Bank a/c Dr Loss on the issue of debt. a/c Dr To 8% debenture To premium on issue of
debt. To premium on redemption
of debt. (Being 8% debenture issued at a premium) |
1650000 75000 |
1500000 150000 75000 |
|
8% debenture a/c Dr Premium on redemption of debt. a/c Dr To bank (Being redemption of 8% debenture at a premium) |
1500000 75000 |
1575000 |
2069 Supp. Set B Q. No. 12
Journal entries
|
Particular |
Debit |
Credit |
|
Bank a/c Dr Loss on the issue of debt. a/c Dr To 12% debenture To premium on issue of
debt. To premium on redemption
of debt. (Being 12% debenture issued at a premium) |
210000 20000 |
200000 10000 20000 |
|
12% debenture a/c Dr Premium on redemption of debt. a/c Dr To bank (Being redemption of 12% debenture at a premium) |
200000 20000 |
220000 |
2067 Q. No. 12
Journal entries
|
Particular |
Debit |
Credit |
|
Bank a/c Dr Loss on the issue of debt. a/c Dr To 10% debenture To premium on issue of
debt. To premium on redemption
of debt. (Being 10% debenture issued at a premium) |
525000 50000 |
500000 25000 50000 |
|
10% debenture a/c Dr Premium on redemption of debt. a/c Dr To bank (Being redemption of 10% debenture at a premium) |
500000 50000 |
550000 |
2064 Q. No. 12
Journal entries
|
Particular |
Debit |
Credit |
|
Bank a/c Dr Loss on the issue of debt. a/c Dr To 10% debenture To premium on issue of
debt. To premium on redemption
of debt. (Being 10% debenture issued at a premium) |
550000 25000 |
500000 50000 25000 |
|
10% debenture a/c Dr Premium on redemption of debt. a/c Dr To bank (Being redemption of 10% debenture at a premium) |
500000 25000 |
525000 |
2064 Q. No. 4 (OLD)
Journal entries
|
Particular |
Debit |
Credit |
|
Bank a/c Dr Loss on the issue of deb. a/c Dr To 10% debenture To premium on issue of
deb. To premium on redemption
of deb. (Being 10% debenture issued at a premium) |
220000 10000 |
20000 200000 10000 |
|
10% debenture a/c Dr Premium on redemption of deb. a/c Dr To bank (Being redemption of 10% debenture at a premium) |
200000 10000 |
210000 |
2063 Q. No. 4
|
Particular |
Debit |
Credit |
|
Bank a/c Dr Loss on the issue of debt. a/c Dr To 10% debenture To premium on issue of
deb. To premium on redemption
of deb. (Being 10% debenture issued at a premium) |
525000 30000 |
500000 25000 30000 |
|
10% debenture a/c Dr Premium on redemption of deb. a/c Dr To bank (Being redemption of 10% debenture at a premium) |
500000 30000 |
530000 |
