Exe Ltd. Issued 10,000, 9 % Debentures of ₹ 100 each at a premium of 10%
Channel: Doubtnut
Date: 29/03/2020

Exe Ltd. Issued 10,000, 9 % Debentures of ₹ 100 each at a premium of 10% payable ₹ 25 on application, ₹ 35 on allotment (including Premium) and the balance on fi₹t and final call. Applications were received for 15,000 debentures. Allotment was made on pro rate basis excess application money being applied towerds amount due on Allotment. All sums due were received by the company on due dates. Journalise the above transactions in the books of Exe Ltd. and prepere extract of the Balance Sheet showing Securities Premium Reserve and Debentures.