DK Goel Solutions ISC Q 21 Chapter 7 Company Accounts-Issue of Debentures Class 12 ISC [2023-24]
Step-by-step solution of Question 21, Chapter 7 Company Accounts – Issue of Debentures, DK Goel Class 12 Accountancy 2023-24 for the ISC Board.
Question 21
What journal entries will be made in the following cases :
- (i) A company issued ₹ 40,000, 12% Debentures at par, redeemable also at par.
- (ii) A company issued ₹ 40,000, 12% Debentures at a discount of 10% redeemable at par;
- (iii) A company issued ₹ 40,000, 12% Debentures at a premium of 5% redeemable at par;
- (iv) A company issued ₹ 40,000, 12% Debentures at par, redeemable at 10% premium; and
- (v) A company issued ₹ 40,000, 12% Debentures at a discount of 5% and redeemable at 5% premium.
Note. The face value of a 12% Debenture is ₹ 100. Assume that the discount or loss on issue of debentures is to be written off in the first year itself.
Solution
All questions of Chapter 7
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About this solution
This is Chapter 7 Company Accounts-Issue of Debentures of DK Goel For 2024 Examinations.
Written by Vijay Adarsh, teaching commerce since 2003 to Class 11, Class 12, B.Com, CA, CS and CMA students.
We have solved all the practical questions in this book and explained them Step by Step in detail with clear working notes.
Also, we have followed the proper format and workings which are required as per ISC Guidelines. Just follow our presentation of solutions and score good marks in the Accountancy Board Exam.
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