9. ISSUE AND REDEMPTION OF DEBENTURES Solution No - 1 ASSIGNMENT PROBLEMS
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IPCC_ 34.5e _ Crash_ Accounts (Group-2) Issue and Redemption of Debentures___80
Ph: 98851 25025/26 www.mastermindsindia.com
9. ISSUE AND REDEMPTION OF DEBENTURES
Solution No - 1
ASSIGNMENT PROBLEMS
IPCC_ 34.5e _ Crash_ Accounts (Group-2) Issue and Redemption of Debentures___81
No.1 for CA/CWA & MEC/CEC MASTER MINDS
IPCC_ 34.5e _ Crash_ Accounts (Group-2) Issue and Redemption of Debentures___82
Ph: 98851 25025/26 www.mastermindsindia.com
Solution No - 2
IPCC_ 34.5e _ Crash_ Accounts (Group-2) Issue and Redemption of Debentures___83
No.1 for CA/CWA & MEC/CEC MASTER MINDS
Solution No - 3
IPCC_ 34.5e _ Crash_ Accounts (Group-2) Issue and Redemption of Debentures___84
Ph: 98851 25025/26 www.mastermindsindia.com
IPCC_ 34.5e _ Crash_ Accounts (Group-2) Issue and Redemption of Debentures___85
No.1 for CA/CWA & MEC/CEC MASTER MINDS
IPCC_ 34.5e _ Crash_ Accounts (Group-2) Issue and Redemption of Debentures___86
Ph: 98851 25025/26 www.mastermindsindia.com
IPCC_ 34.5e _ Crash_ Accounts (Group-2) Issue and Redemption of Debentures___87
No.1 for CA/CWA & MEC/CEC MASTER MINDS
Solution No - 4
IPCC_ 34.5e _ Crash_ Accounts (Group-2) Issue and Redemption of Debentures___88
Ph: 98851 25025/26 www.mastermindsindia.com
IPCC_ 34.5e _ Crash_ Accounts (Group-2) Issue and Redemption of Debentures___89
No.1 for CA/CWA & MEC/CEC MASTER MINDS
Solution No - 5
IPCC_ 34.5e _ Crash_ Accounts (Group-2) Issue and Redemption of Debentures___90
Ph: 98851 25025/26 www.mastermindsindia.com
Notes:
IPCC_ 34.5e _ Crash_ Accounts (Group-2) Issue and Redemption of Debentures___91
No.1 for CA/CWA & MEC/CEC MASTER MINDS
Solution No – 6
10% Debenture Account
Date Particulars Rs. Date Particulars Rs. 31st March 2014
To Own debentures A/c.
3,00,000 1st April 2014
By Balance b/d
25,00,000
To Bank A/c. 22,00,000 25,00,000 25,00,000
Debenture Redemption Sinking Fund Account
Date Particulars Rs. Date Particulars Rs. 31st March 2014
To General Reserve A/c (Bal. fig.)
27,30,000 1st April 2013
By Balance b/d 24,00,000
To Bank A/c. 22,00,000 By Profit & Loss 90,000 By Interest on Sinking
fund A/c (W.N.3) 2,06,000
By Own debenture A/c (w.n.4)
6,000
By 80% Stock A/c (profit) 28,000 27,30,000 27,30,000
Working Notes:
1) Amount of stock as on 1st April, 2013 Rs. Sinking fund balance as on 1st April, 2013 24,00,000 Less : own debentures (3,000 x 98) 2,94,000 21,06,000
2) Sales value of 8% stock = Face value / Rs. Per stock = Rs.22,00,000 / Rs.100 = 22,000 stock Value = 22,000 x 97 per stock = Rs.21,34,000 3) Interest credited to Sinking Fund Account Rs i) Interest on 8% stock (Rs.22,00,000 x 8%) 1,76,000 ii) Interest on own debentures (3,000 debentures x Rs.100 x 10%) 30,000 2,06,000 4) Own Debenture Account
Date Particulars Rs. Date Particulars Rs.
1st April 2013 To Bal. b/d. 2,94,000 31st March 2012
By 10% Debentures Account
3,00,000
31st March 2012
To Sinking Fund A/c. 6,000
3,00,000 3,00,000
5) 8% Stock Account
Date Particulars Rs. Date Particulars Rs.
1st April 2013 To Bal. b/d. 21,06,000 31st March 2012
By Bank Account (w.n.2)
21,34,000
31st March 2014
By Sinking Fund (profit on sales)
28,000
21,34,000 21,34,000
IPCC_ 34.5e _ Crash_ Accounts (Group-2) Issue and Redemption of Debentures___92
Ph: 98851 25025/26 www.mastermindsindia.com
Solution No – 7
IPCC_ 34.5e _ Crash_ Accounts (Group-2) Issue and Redemption of Debentures___93
No.1 for CA/CWA & MEC/CEC MASTER MINDS
Solution No – 8
IPCC_ 34.5e _ Crash_ Accounts (Group-2) Issue and Redemption of Debentures___94
Ph: 98851 25025/26 www.mastermindsindia.com
IPCC_ 34.5e _ Crash_ Accounts (Group-2) Issue and Redemption of Debentures___95
No.1 for CA/CWA & MEC/CEC MASTER MINDS
Solution No – 9
Solution No – 10
IPCC_ 34.5e _ Crash_ Accounts (Group-2) Issue and Redemption of Debentures___96
Ph: 98851 25025/26 www.mastermindsindia.com
List of Problems / Questions being ignored:
Problem / Question Numbers being Ignored Reason for Ignoring a Problem / Question From Practice Manual From Study Material
Theory Question - -
Problems of Basic Model - -
Similar Problems already covered 3 4
THE END
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