Question

ILLUSTRATIONS
On Ist April, 2007 Appolo Ltd. issued 2,000,12% Debentures of ₹100 each repayable at par at the
end of three years. It has been decided to set up a Sinking Fund for the purpose of their redemption
The investments are expected to earn interest of 4% p.a. The Sinking Fund Table shows that ₹0.320348
invested each year amounts to ₹1 @ 4% p.a. in three years.
Investments were sold at par on 31st March 2010 and the Debentures were paid off. Pass Journal
entries and prepare necessary accounts. Entries relating to interest on debentures may be ignored.​

Answer 1

Answer:

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