Question

27. A company has issued 12,00,000 6% debentures at a discount of 6%, repayable over a period of 10 years at par by annual drawings of 1,20,000. Write up the cash book, debentures account and discount on debentures account for the first three years. ​

Answer 1

Answer:

• Refer the attachment:)

Answer 2

Answer:

Question No. 4 Contract price Rs.10,00,000, Cost incurred to date Rs.4,00,000, Work certified Rs.5,60,000, Cash received 80% of work certified, Work uncertified Rs.2,60,000. Profit to be credited to profit & loss account