Accountancy, asked by danishmahajan9845, 10 months ago

On 1st April, 2014, Popular Ltd. issued 20,000; 10% Debentures of ₹ 100 each at a discount of 10% redeemable at par. Show the Discount on Issue of Debentures Account if
(a) such debentures are redeemable after 4 years, and
(b) such debentures are redeemable by equal annual drawings in 4 years, starting from 31st March, 2015. Popular Ltd. follows financial year as its accounting year.

Answers

Answered by kingofself

1

Explanation:

Case A - Total discount will be Amount X 10%

Case B - Total discount will equal withdrawal for 4 years.

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