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Alka Ltd. issued 5,000, 10% Debentures of Rs 1,000 each at a discount of 10% redeemable at a preminum of 5% after 5 years. According to the terms of issue, Rs 500 was payable on application and the balance amount on allotment of debentures. Record necessary journal entries regarding issue of 10% debentures. |
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Answer» Alka Ltd. issued 5,000, 10% Debentures of Rs 1,000 each at a discount of 10% redeemable at a preminum of 5% after 5 years. According to the terms of issue, Rs 500 was payable on application and the balance amount on allotment of debentures. Record necessary journal entries regarding issue of 10% debentures. |
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