Question

31. Pass Journal entries in the following cases:
(a) Rohit Ltd. issued * 40,000; 12% Debentures at a premium of 5% redeemable at par.
(b) Virat Ltd. issued * 40,000; 12% Debentures at a discount of 10% redeemable at par.
(c) Rahul Ltd. issued 340,000; 12% Debentures at par redeemable at 10% premium.
(d) Prithvi Ltd. issued ? 40,000; 12% Debentures at a discount of 5% and redeemable at 5% pree
(e) Shikhar Ltd. issued * 40,000; 12% Debentures at a premium of 10% redeemable at 110%​

Answer 1

Explanation:

Case (b): The purchase consideration was payable 10% in cash and the balance in 4,500; 12% Debentures of ₹ 100 each issued at 20% ...

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Answer 2

see the redemption process clearly