41 :- Agam Ltd. issued 40,000; 9% Debentures of ₹ 100 each on 1st April, 2024 at a discount of 10% redeemable at a premium of 10%.
Assuming that the interest was paid half yearly on 30th September and 31st March, give Journal entries relating to debenture interest for the half year ended 31st March, 2025.
42 :- Pratham Ltd. issued 50,000, 9% Debentures of ₹ 100 each on 1st April, 2024 at 10% discount, redeemable at 10% premium. Interest is payable quarterly on 30th June, 20th September, 31st December and 31st March.
Pass the Journal entries for interest for the period ended 30th June, 2024.
43 :- Bright Ltd. issued 5,000; 10% Debentures of ₹ 100 each on 1st April, 2024. The issue was fully subscribed As per the terms of issue, interest on the debentures is payable half-yearly on 30th September and 31st March.
Pass necessary Journal entries related to the debentures interest for the year ending 31st March, 2025 and transfer of interest on debentures of the year to the Statement of Profit & Loss.
44 :- On 1st April, 2024, V.V.L. Ltd. issued 1,000, 9% Debentures of ₹ 100 each at a discount of 6%, redeemable at a premium of 10% after three years. Pass necessary Journal entries for the issue of debentures and debenture interest for the year ended 31st March, 2025, assuming that interest is payable on 30th September and 31st March. The company closes its books on 31st March, every year.
45 :- Pawan Hans Ltd. issued on 1st July, 2024, 10,000, 7% Debentures of ₹ 100 each for subscription at 10% premium payable ₹ 40 on application and balance on allotment. The debentures were subscribed and due amounts were received. Interest was payable on 31st March each year.
Pass the Journal entry for issue of debentures and interest for the year ended 31st March, 2025 and transfer the interest to Statement of Profit & Loss.
46 :- Suzlon Ltd. issued on 1st July, 2024, 20,000, 7% Debentures of ₹ 100 each for subscription at 10% premium payable ₹ 40 on application; ₹ 40 (including premium) on allotment and balance on first and final call. The debentures were subscribed and allotted. The company has not made first and final call during the year ended 31st March, 2025. Interest was payable on 31st March each year.
Pass the Journal entry for issue of debentures and interest for the year ended 31st March, 2025 and transfer the interest to Statement of Profit & Loss.