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A company has outstanding liability of …

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A company has outstanding liability of 10% rs 100 debentures amounting to rs 1500000 redeemable at the option of company by drawing at par or by purchase in the open market. It has a credit balance of rs60000 in the profit and loss appropriation account. It decides to reedemd rs 60000*debentures by purchasing rs 45000 debentures in the open market at rs 99 each draw lots for rs 15000 debentures. Show necessary journel entries.?

Posted by Pushpesh Singh 6 years, 8 months ago

CBSE > Class 12 > Accountancy

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