Erase Collateral Debenture fast and easy

Simple instructions on the way to Erase Collateral Debenture

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How to Erase Collateral Debenture

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Collateral security refers to additional security pledged by a borrower. For example, if XYZ Company wishes to secure a loan of 50 lakhs, it pledges its machinery as collateral. To strengthen the security further, the company may issue debentures worth 60 lakhs to the bank, alongside the machinery. These debentures serve solely as collateral; they will only be utilized if XYZ Company defaults on the loan. Thus, while the loan is secured by a physical asset (machinery), the additional debentures provide extra assurance to the bank in case of default.

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When debentures are issued as collateral security interest is paid on what?

When debentures are issued as collateral security, interest is paid on:a)Nominal value of debenturesb)Face value of debenturesc)Discounted value of debenturesd)No interest is paidCorrect answer is option D.

What is the accounting treatment when debentures are issued as a collateral security?

In case of issue of debentures as collateral security, the effect in the Balance Sheet is nullified because balance of Debenture Suspense Account is deducted from Debentures Account.

Is collateral required for debentures?

A company may have to issue debentures as a subsidiary or secondary security in addition to the principal security when it takes a loan from a bank or from other party, this is known as Issue of Debentures as Collateral Security. Collateral security is the secondary security in addition to the principal security.

How do you record the issue of debentures?

There are different journal entries in connection with the issue of debentures. On receipt of Application Money. Date. Particulars. On allotment, transfer to Debentures A/c. Date. Amount Due on Allotment. Date. Receipt of debenture allotment money. Date. Amount Due On First Call. Date. Receipt of Debentures first call money. Date.

What is the journal entry when debentures are issued at collateral security?

A journal entry is made on the issue of debentures as a collateral security, Debentures Suspense Account is debited because no cash is received for such issue.

What is the accounting treatment for debentures?

Notes: Discount on issue of Debentures is a capital loss and will be written off during the life time of the debentures. The unamortized parts will be shown on the Assets side of the balance sheet as Unamortized expenses. Loss on issue of debentures can be written off from Securities Premium reserve.

What is a collateral debenture?

A debenture is a type of bond or other debt instrument that is unsecured by collateral. Since debentures have no collateral backing, they must rely on the creditworthiness and reputation of the issuer for support. Both corporations and governments frequently issue debentures to raise capital or funds.

What is the entry of collateral security?

Collateral means secondary. Thus, collateral security refers to supporting or secondary security for a loan. In case the borrower fails to pay the original loan amount on the due date, the lender can sell the collateral security to realize the amount of loan.

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Erase Collateral Debenture