Question

ABC limited issue 10,000, 9%. Debentures of $100
each at a premium of 5% redeemable at a
premium of 10%. The loss on issue of debentures
account will be debited to by.
​

Answer 1

Explanation:

ABC Ltd. issued 40,000; 10% Debentures of ₹ 100 each at par for cash ... To Premium on Redemption of Debentures A/c(7,000×50) ... Loss on issue of Debentures A/c (5,000×50). Dr..............