Show by means of Journal Entries how will you record the following issues. Also, show how they
Question:
Show by means of Journal Entries how will you record the following issues. Also, show how they will appear in the respective Balance Sheets:
(a) A Ltd. issues 10,000, 16% debentures of ₹100 each at a discount of 5%, redeemable at the end of 6 years at par.
(b) B Ltd. issues 10,000, 14% debentures of ₹100 each at a discount of 5%, redeemable at the end of 5 years at a premium of 5%.
(c) C Ltd. issues 10,000 15% debentures of ₹100 each at par, redeemable at the end of 5 years at a premium of 5%.
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Scenario a A Ltd Debentures are issued at a discount and redeemed at par Journal Entries At the time of Issuance Debit CashBank Ac 10000 debentures 10...View the full answer
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Corporate Accounting As Per The Companies Act 2013 Including Rules 2014 And 2015
ISBN: 9789352605569
2nd Edition
Authors: M Hanif, A Mukherjee
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