Page 163 - DCOM201_ACCOUNTING_FOR_COMPANIES_I

Accounting for Companies-I

Notes Balance Sheet of Sunita Ltd. as on....
Liabilities ( ) Assets ( )
Secured Loans: Current Assets:
15% Debentures 50,00,000 Cash at Bank 50,00,000

(b) Journal of Sanjay Limited
Date Particulars L.F. (`) (`)
Bank Account Dr. 67,50,000
Discount on Issue of Debenture Account Dr. 7,50,000
To 15% Debentures Account 75,00,000
(Being issue of 15% Debentures at discount and redeemable at par)

Balance Sheet of Sanjay Limited as on....
Liabilities ( ) Assets ( )
Secured Loans: Current Assets:
15% Debentures 75,00,000 Cash at Bank 67,50,000
Miscellaneous Expenditure:
Discount on Issue of Debentures 7,50,000

(c) Journal of Ajay Limited
Date Particulars L.F. (`) (`)
Bank Account Dr. 22,00,000
To 15% Debentures Account 20,00,000
To Debentures Premium Account 2,00,000
(Being issue of 15% Debentures at premium and redeemable at par)

Balance Sheet of Ajay Limited as on...
Liabilities ( ) Assets ( )
Reserve & Surplus: Current Assets:
Debentures Premium 2,00,000 Cash at Bank 22,00,000
Secured Loans:
15% Debentures 20,00,000

(d) Journal of Vijay Limited
Date Particulars L.F. ( ) ( )
Bank Account Dr. 25,00,000
Loss on Issue of Debentures Account Dr. 1,25,000
To 15% Debentures Account 25,00,000
To Premium on Redemption of Debentures Account 1,25,000
(Being issue of 15% Debentures at par and redeemable at premium)

Balance Sheet of Vijay Limited as on...
Liabilities ( ) Assets ( )
Secured Loans: Current Assets:
15% Debentures 25,00,000 Cash at Bank 25,00,000
Premium on Redemption of Debentures. 1,25,000 Misc. Expenditure:
Loss on Issue of Debentures 1,25,000

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