pass the necessary journal entries for the issue of 7% debenture in the following cases:
(a) Rs 150 each issued at 10% premium redeemable at rupees 200 each.
(b) 200 debentures of rupees 200 each issued at a discount of 10% redeemable at par.

Question

pass the necessary journal entries for the issue of 7% debenture in
the following cases:
(a) Rs 150 each issued at 10% premium redeemable at rupees 200
each
(b) 200 debentures of rupees 200 each issued at a discount of 10%
redeemable at par

Saurav Mittal · Answer

Please find this answer
<img src=
"https://s3mn%20mnimgs%20com/img/shared/content_ck_images/ck_5ba79a42b1eaf%20png">

pass the necessary journal entries for the issue of 7% debenture in the following cases: (a) Rs 150 each issued at 10% premium redeemable at rupees 200 each. (b) 200 debentures of rupees 200 each issued at a discount of 10% redeemable at par.

pass the necessary journal entries for the issue of 7% debenture in the following cases:
(a) Rs 150 each issued at 10% premium redeemable at rupees 200 each.
(b) 200 debentures of rupees 200 each issued at a discount of 10% redeemable at par.