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Pass journal entries for issue of …

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Pass journal entries for issue of 1000,7%deb enture of 100 each in the following cases 1.issued at 55premium redeemable at a premium of 10%. 2. Issued at a discount of 5%redeemable at par

Posted by Abhiraj Gupta 6 years, 1 month ago

CBSE > Class 12 > Accountancy

2 answers

Abhiraj Gupta 6 years, 1 month ago

Sorry 1 thing i have written wrong in this que, there should be 5%instead of 55 but according to the que Your solution is correct Thankyou ?

Vishnu Kumar Patidar 6 years, 1 month ago

1..1.bank a/c. dr.. 155000 to debenture app. a/c. 155000 2. debenture app.a/c. dr.. 155000 loss on issue of debenture a/c. dr.. 10000 to 7%debenture a/c. 100000 to s.p.r. a/c. 55000 to premium on redem. of deb. 10000 2.. 1. bank a/c dr.. 95000 to debentur app. a/c 95000 2. debenture app. a/c dr.. 95000 dicount on issue of deb.a/c. dr.. 5000 to 7%debenture a/c 100000

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