Question
A company bought a new machinery worth Rs.4 lakh by
issuing 10% Debentures of value Rs.160 were issued at a premium of 25%. How much amount is credited to the Debenture Account?Solution
Since the debentures are issued at premium, the securities premium account will be credited with the premium amount while the debenture account will be credited with the face value. Total book value = Face value + premium Premium is 25% on face value or it can be said it is 20% on the book value. As such face value is 80% of book value = 80% * 400000 = Rs.320,000.
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