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Alka Ltd issued 5000,10% debentures of …

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Alka Ltd issued 5000,10% debentures of ₹1000 each at a discount of 10% redeemable at a premium of 5% after 5 years.According to the termsof issue ₹500 was payable on application and the balance amount on allotment of debentures.record journal entries regarding issue of 10% debentures

Posted by Xyz Abcd 7 years ago

CBSE > Class 12 > Accountancy

1 answers

Mayank Singh 7 years ago

Bank a/c Dr. 2500000 To 10% debentue application 2500000 Debenture applucation a/c Dr. 2500000 To 10%debenture 2500000 Debentue allotment a/c Dr. 2000000 Loss in issue a/c Dr. 750000 To 10%debenture 2500000 To premeium on redemption 250000

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