Question

28. Muthu Co. Ltd. issued 10,000 10% debentures of Rs. 100 each on 1.7.93. They
were redeemable on 1.7.96 at 5% premium. Interest was payable annually on 31st
December. The following transactions took place on the dates mentioned below:
(1) On 1.10.94, the company buys 800 own debentures in the open market at
Rs. 98 ex-interest. These debentures were resold at Rs. 97 each on 31st
December 94, after receiving interest.​

Answer 1

Answer:

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