Question

as collateral security for a loan of Rs 10,00,000 - Rs 12,50,000 Nominal value
Pass necessary Joumal Entries.
A company issued 12% debentures of the face value of Rs 10,00.000 at 10% discount on *4-2020. Debent
interest after deducting tax at source @ 10% was payable on 30 June and 31 of December every year. All
debentures were to be redeemed after the expiry of five year period at 5% premium Pass joumat entries for
Accounting year 2020
PARTNERSHIP ACCOU
UNIT 1 - INTRODUCTION TO PARTNERSHIP ACCOUNTS
, B and C entered into partnership on 1.1.2020 to share profits and losses in the ratio of 5:3:2. A per
uaranteed that C's share of profit after charging interest on capitals at 5% pa would not be less than Rs
any year. Capitals of A, B and C were Rs. 3,20,000, Rs. 2,00 000 and Rs. 1,60,000 respectively.
rofits for the year ending 31.12.2020 before providing for erest on partners' capital was Rs.1,59,000.
u are required to prepare the Profit and Loss Appropriation Account​

Answer 1

Explanation:

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