36 solve
Dear Student,
No. of Preference shares =
Keep posting!!
Regards,
| Date | Particulars | LF | Amount (in Rs) | Amount (in Rs) |
| 01 Apr 2014 | Bank A/c (500*1,000) | Dr | 500,000 | |
| Loss on Issue of debentures A/c (500*1,000*5%) | Dr | 25,000 | ||
| To 15% Debentures A/c | 500,000 | |||
| To Premium on redemption A/c | 25,000 | |||
| (Debentures issued) | ||||
| 31 Mar 2015 | Debenture Interest A/c (5,00,000*15%) | Dr | 75,000 | |
| Debenture holders A/c | 75,000 | |||
| (Debenture interest due ) | ||||
| 15% Debentures A/c (60*1,000) | Dr | 60,000 | ||
| Premium on redemption of debentures A/c (60*1,000*5%) | 3,000 | |||
| To 10% Preference Share Capital A/c (525*100) | 52,500 | |||
| To Securities Premium A/c (525*20) | 10,500 | |||
| (60 debentures converted into 525 preference shares of Rs 100 each issued at Rs 20 per share premium) |
No. of Preference shares =
Keep posting!!
Regards,