Accountancy, asked by adesai7170, 11 months ago

Tetley Ltd. issued 10,000, 9% Debentures of ₹ 100 each at a discount of 5% redeemable at the end of 5 years at a premium of 10%. Tetley Ltd. has a balance of ₹ 50,000 in Securities Premium Reserve. Loss on Issue of debentures is to be written off equally over the life of debentures.
Pass the journal entries for writing off the Loss on Issue of Debentures.

Answers

Answered by aami1463

2

Answer:

Tetley Ltd. issued 10,000, 9% Debentures of ₹ 100 each at a discount of 5% redeemable at the end of 5 years at a premium of 10%. Tetley Ltd. has a balance of ₹ 50,000 in Securities Premium Reserve. Loss on Issue of debentures is to be written off equally over the life of debentures.

Pass the journal entries for writing off the Loss on Issue of Debentures.

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Answered by kingofself

1

Explanation:

Calculation - Formula =

Loss on Issue of Debentures =

Dis on Issue of Debentures + Premium on Redemption of Debentures

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