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Blue Ltd. issued Rs. 8,00,000; 9% …

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Blue Ltd. issued Rs. 8,00,000; 9% debenture of Rs. 100 each at a discount of 5%, redeemable at 10% premium, payable as: 4771 Rs. 50 on application, Rs. 25 on allotment and balance on first and final call. All the debenture were subscribed and due amount was received. Discount allowed at the time of allotment. Pass the journal entries for issue of debenture and writing off discount or loss on issue of debenture. Balance in securities premium and capital reserve are Rs. 20,000 and Rs. 8000 respectively.

Posted by Bharat Gupta 2 years, 1 month ago

CBSE > Class 12 > Accountancy

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