Alka Ltd. issued 5,000, 10% Debentures of ₹ 1,000 each at a discount of 10% redeemable at a premium of 5% after 5 years. According to the terms of issue ₹ 500 was payable on application and the balance amount on allotment of debentures. Record necessary entries regarding issue of 10% Debentures.
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The necessary Journal entries in the books of the company are calculated and prepared below:
Explanation:
Given,
Alka Ltd. issued 5,000, 10% Debentures of ₹ 1,000 each at a discount of 10% redeemable at a premium of 5% after 5 years.
According to the terms of issue
₹ 500 was payable on application and the balance amount on allotment of debentures.
The necessary Journal entries in the books of the company are calculated and prepared below:
Attachments:
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