Question

You are working in Moon Ltd. The company issued on January 1, 2016, 2,00,000, 8%
debentures of Rs. 100 each repayable at the end of 4 years at par. It was decided to create a
sinking fund for the redemption of debentures. The investments are expected to earn interest at
5% p.a. Reference to the sinking fund table shows that Re. 0.23012 invested at 5% p.a. amounts
to Re. 1 at the end of four years. On December 31, 2019, the investments were sold at Rs.
1,45,00,000 and the debentures were redeemed. Entries relating to interest and TDS on
debentures may be ignored. Prepare the 8% Debentures Account; Sinking Fund Account; and
Sinking Fund Investments Account in the books of Moon Limited for all the four years.

Answer 1

Answer:

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Answer 2

Answer:

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