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

Question

1 Approved Answer

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

thanks 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

Step: 3

blur-text-image

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

Effective Writing A For Accountants

Effective Writing A For Accountants

Authors: Claire B. May, Gordon S. May

9th Edition

0132567245, 9780132567244

More Books

Students also viewed these Accounting questions

Question

★★★★★
Consider the following data on an asset: Cost of the asset, !............................... $73,000 Useful life, N.............................. 7 years Salvage value ,...

Answered: 1 week ago

Question

★★★★★
Three Winds Consulting is a consulting firm owned and operated by Gabriel Brull. The following end-of-period spreadsheet was prepared for the year ended June 30, 2012. Based on the preceding...

Answered: 1 week ago

Question

★★★★★
In the section that sells swimming suits at a large department store, the number of purchases in an hour follows the Poisson distribution with ???? =

Answered: 1 week ago

Question

★★★★★
AllTalk Technologies manufactures capacitors for cellular base stations and other communications applications. The companys July 2014 flexible budget shows output levels of 6,500, 8,000, and 10,000...

Answered: 1 week ago

Question

★★★★★
A) Give a statement of the purpose of the Income statement (or equivalent) ad the Statement of Financial Position (or equivalent)

Answered: 1 week ago

Question

★★★★★
Financial Reporting Financial Statement Analysis and Valuation 8th edition. My question is regarding Chapter 2 Problem 1C. There is a posted answer in the textbook solution and it is incorrect. You...

Answered: 1 week ago

Question

★★★★★
HR managers develop strategies to systematically monitor the major factors influencing their organization to identify trends that might affect the formulation and implementation of both...

Answered: 1 week ago

Question

★★★★★
Assess each strategy based on cost, beneficial long-term effects, & moral outcomes. Thoroughly, apply a minimum of four ethical theories to assess options. Ensure evaluation is in-depth, insightful,...

Answered: 1 week ago

Question

★★★★★
Refer to Step 5.1. Calculate the weights of VBTLX and VFIAX that achieve a portfolio allocation that represents an "optimal risky portfolio" on the efficient frontier, as of the end of December 2015....

Answered: 1 week ago

Question

★★★★★
Pun Poon Phya is the managing director of PPP Food Products, a recently established manufacturing company based in Kuala Lumpur. He recently approached your firm, ACT Partners, Chartered Accountants,...

Answered: 1 week ago

Question

★★★★★
When Martin, a BCBA, meets with his supervisee, he will typically explain a concept, and model how to perform the related skill. However, Martin finds role plays awkward, so he is considering...

Answered: 1 week ago

Question

★★★★★
=+Part 1 Choose a campaign you think is terrific. Ask yourself why you like it so much?

Answered: 1 week ago

Question

★★★★★
=+Does it make you feel cool?

Answered: 1 week ago

Question

★★★★★
=+Part 2 Be sure to think about your audience, their values, and what would be a relevant message for them.

Answered: 1 week ago

Previous Question Next Question