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Accountancy · 2025 · 4 marks
CBSE 2025 · Region 2 · Set 1 · Q21
Ridyum Limited issued 5,000, 9% debentures of ₹ 500 each at a premium of 10%. The amount was payable as fellows: On Application - ₹ 200 per debenture…
Ridyum Limited issued $\displaystyle 5,000$, $\displaystyle 9$% debentures of ₹ $\displaystyle 500$ each at a premium of $\displaystyle 10$%. The amount was payable as fellows : On Application - ₹ $\displaystyle 200$ per debenture On Allotment - Balance (including premium) The debentures were fully subscribed and all amounts were duly received. Pass the necessary journal entries for issue of debentures in the books of Ridyum Limited.
Marking-scheme solution
Books of Ridyum Ltd.
Journal
Date Particulars L.F. Dr. Cr.
Amount Amount
(₹) (₹)
Bank A/c Dr. $\displaystyle 10,00,000$
To Debenture Application A/c $\displaystyle 10,00,000$
(Debenture application money received)
Debenture Application A/c Dr. $\displaystyle 10,00,000$
To $\displaystyle 9$% Debentures A/c $\displaystyle 10,00,000$
(Debenture application money transferred to debentures
account)
Debenture Allotment A/c Dr. $\displaystyle 17,50,000$
To $\displaystyle 9$% Debentures A/c $\displaystyle 15,00,000$
To Securities Premium A/c $\displaystyle 2,50,000$
(Debenture allotment money due)
Bank A/c Dr. $\displaystyle 17,50,000$
To Debenture Allotment A/c $\displaystyle 17,50,000$
(Debenture allotment money received)
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