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Bright Ltd. issued 5000; 10% debentures …

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Bright Ltd. issued 5000; 10% debentures of ₹100 each on 1st april ,2015. The issue was fully subscribed. According to the terms of issue, interest on the debentures is payable half-yearly on 30th september and 31st march and the tax deducted at source is 10%. Pass journal entries related to debenture interest for the year ending 31st march,2016 and transfer of interest on debenture of the year to the statement of profit and loss.

Posted by Xyz Abcd 6 years, 11 months ago

CBSE > Class 12 > Accountancy

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