A Ltd. Company issued debentures of Rs1,00,000 which were issued as follows: (2) For creditor for 20,000
(1) For cash at 90%
250,000 (Nominal)
Capital Expenditure in satistaction of his claim 25,000 (Nominal)
(3) To Bankers for a loan of 15,000 as
Collateral Security
*25,000 (Nominal)
Pass the journal entries (for first year only). It is the policy of the Company to
write of all capital losses in the first year itself. in
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(1) For cash at 90%
250,000 (Nominal)
Capital Expenditure in satistaction of his claim 25,000 (Nominal)
(3) To Bankers for a loan of 15,000 as
Collateral Security
*25,000 (Nominal)
Pass the journal entries (for first year only). It is the policy of the Company to
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