5 :- Narain Laxmi Ltd. invited applications for issuing 7,500; 12% Debentures of Rs 100 each at a premium of Rs 35 per debenture. The full amount was payable on application. Issue was subscribed and allotment was made.
Pass necessary Journal Entries for the above transactions in the books of Narain Laxmi Ltd.
6 :- Nipa Limited issued 10,000 Debentures of Rs 100 each at a premium of 10%, payable 30% of nominal (face) value on application (including premium) and the balance on allotment. The debentures were applied for and the amount was duly received.
You are required to give Journal entries and prepare Cash Book.
7 :- GT Ltd. Issued 5,000; 8% Debentures of Rs 100 each at a premium of 5% payable as follows :
Rs 10 on application; Rs 20 plus premium on allotment and balance on first and final call.
Pass necessary Journal entries.
8 :- Nikki Ltd. Issued 10,000, 7% Debentures of Rs 100 each at premium of Rs 20 per debenture. Issue price was payable as follows: Rs 40 on application, Rs 50 (including premium) on allotment and balance on first and final call. It received Rs 4,00,000 as application money. On allotment due amount was received. First and final call is yet to be made.
9 :- Raja Ltd. issued 5,000; 9% Debentures of Rs 100 each at a premium of Rs 40 payable as follows:
(i) Rs 40, including premium of Rs 10 on application:
(ii) Rs 45, including premium of Rs 15 on allotment; and
(iii) Balance as first and final call.
The issue was subscribed and allotment made. Calls were made and due amount was received.
Pass Journal entries.
10 :- Kamya Ltd. issued 30,000, 8% Debentues of Rs 100 each at 10% premium for subscription. The issue price was payable Rs 40 on application, Rs 40 (including premium) on allotment and balance on first and final call. It received application money amounting to Rs 10,80,000. Allotment was made and allotment money was received. First and final call is yet to be made. You are required to pass the necessary Journal entries.