51 :- On 1st January, 2024, Raha Ltd. Issued 6,000, 8% debentures of nominal (face) value of Rs 100 each redeemable at 5% premium in equal proportions at the end of 5, 10 and 15 years. It has a balance of Rs 10,000 in Securities Premium.
Pass Journal entries for issue of debentures and writing off Loss on Issue of Debentures.
52 :- Global Ltd. Issued 10,000, 8% Debentures of Rs 100 each redeemable in four equal installments by draw of lots from the end of 3 years at a premium of Rs 9.
Pass the Journal entries for writing off the Loss on issue of debentures. Also prepare Loss on Issue of Debentures Account.
53 :- Garvit Ltd. Invited applications for issuing 3,000, 11% debentures of Rs 100 each at a discount of 6%. The full amount was payable on application. Applications were received for 3,600 debentures. Applications for 600 debentures were rejected and the application money was refunded. Debentures were alloted to the remaining applicants.
Pass the necessary Journal entries for the above transactions, including writing off the Discount on Issue of Debentures, in the books of Garvit Ltd.
54 :- On 1st June, ,2024, R Energy Ltd. issued 10,000, 7% Debentures of Rs 100 each at a discount of 10% redeemable at a premium of 10% at the end of five years. All the debentures were subscribed and allotment was made.
Prepare the Balance Sheet (Extract) as at 31st March, 2025.