FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please hlp In 2018, Royal Ltd. issued 12% fully paid debentures of 100 each, interest being payable half yearly on 30th September and 31st March

please hlp image text in transcribed

In 2018, Royal Ltd. issued 12% fully paid debentures of 100 each, interest being payable half yearly on 30th September and 31st March of every accounting year. On 1st December, 2019, M/s. Kumar purchased 10,000 of these debentures at 101 (cum-interest) price. On 1st March, 2020 the firm sold all of these debentures at 106 (cum-interest) price. You are required to prepare Investment (Debentures) Account in the books of M/s. Kumar for the period 1st December, 2019 to 1st March, 2020

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

New Perspectives In Accounting Ethics

New Perspectives In Accounting Ethics

Authors: Emerald Group Publishing Limited

23rd Edition

1785608673, 9781785608674

More Books

Students also viewed these Accounting questions

Question

★★★★★
Rework Problem 3-64 with the surface marked at a constant 100ºC now absorbing a constant heat flux of 500 W/m2. Add nodes as necessary. Problem 3-64 The two-dimensional solid shown in Figure...

Answered: 1 week ago

Question

★★★★★
Walmart Stores, Inc. (Walmart) is the largest retailing firm in the world. Building on a base of discount stores, Walmart has expanded into warehouse clubs and Supercenters, which sell traditional...

Answered: 1 week ago

Question

★★★★★
Name the different levels of the hierarchy of needs. (p. 264)

Answered: 1 week ago

Question

★★★★★
Journal entries for treasury stock transactions. Prepare journal entries under the cost method to record the following treasury stock transactions of Melissa Corporation. a. Purchases 10,000 shares...

Answered: 1 week ago

Question

★★★★★
Carol owned a life insurance policy with a face value of $100,000 and cash surrender value of $7,000. Her sole beneficiary was her son, Michael. On July 1, 2016, Carol died in a plane crash on her...

Answered: 1 week ago

Question

★★★★★
Baltic Corporation had the following shares outstanding when the board of directors declared aDividend Distribution Baltic Corporation had the following shares outstanding when the board of directors...

Answered: 1 week ago

Question

★★★★★
ANSWER WITH SOLUTION: 1.The statement of financial position of A, B, C partnership as of December 31, 2020 is presented below:

Answered: 1 week ago

Question

★★★★★
Question 1 The Braveheart Corporation uses departmental overhead rates to allocate its manufacturing overhead to jobs. The company has two departments: cutting and painting. The Cutting Department...

Answered: 1 week ago

Question

★★★★★
Simulate a Merge Conflict E. Introduce a merge conflict with the "Test" branch by doing the following: add the git version number to the README.md file on the Working branch merge the "Test" branch...

Answered: 1 week ago

Question

★★★★★
1. [4 Points] Use the Basic Differentiation Rules/Formulas to find the Derivative. Simplify your final answer algebraically and express it in radical notation. f(x) = [xx + 1 131] [x - 1/1/1]

Answered: 1 week ago

Question

★★★★★
You finally saw the couch you need: the colour is perfect (royal blue), the length is just right (it could seat you, your husband, and the kids), and the style is ideal for your furnishings (modern...

Answered: 1 week ago

Question

★★★★★
1. The first Stew Leonards retail grocery was established in 1969. Do you think the culture established and nurtured at this successful firm could be adopted by other retail grocery stores? Explain...

Answered: 1 week ago

Question

★★★★★
1. In the bright light of hindsight, most of us would probably say we would blow the whistle on these instances had we been a witness to them, especially because there was so much money involved. But...

Answered: 1 week ago

Question

★★★★★
3. If you were the employer, how would you handle each of the instances above?

Answered: 1 week ago

Previous Question Next Question