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how to calculate interest on debentures when 50000,12%debentures were issued on31.03.2016

Posted by Sneha Chand 8 years, 5 months ago

CBSE > Class 12 > Accountancy

1 answers

Shubham Kaithwas 8 years, 5 months ago

(1) A company issued 8% Debentures of the face value of $100,000 in Year 2 (repayable in Year 12). Then, the debenture interest due for the year = 8% * $100,000 = $8,000. (2) CK Company issued 10% Debentures of the face value of $200,000 at a discount of 6% on 1 January 2010. A half-year's debenture interest is unpaid during the year. Calculate the debenture interest that must be transfered to profit and loss account for the year ended 31 December 2010. Solution: Total interest on debentures = 10% * $200,000 = $20,000 (Note that this full amount must be charged to the profit and loss account, whether paid or not).

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CBSE > Class 12 > Accountancy

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