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Kitply Ltd.issued ₹ 2,00,000, 10% Debentures at a discount of 5%. The terms of issue provide the repayment at the end of 4 years. Kitply Ltd.has a balance of ₹ 5,00,000 in Securities Premium Reserve. The company decided to write off discount on issue of debentures from Securities Premium Reserve in the first year. Pass the journal entry. |
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Answer» Kitply Ltd.issued ₹ 2,00,000, 10% Debentures at a DISCOUNT of 5%. The terms of issue provide the REPAYMENT at the end of 4 years. Kitply Ltd.has a balance of ₹ 5,00,000 in Securities Premium Reserve. The company DECIDED to write off discount on issue of debentures from Securities Premium Reserve in the FIRST year.Pass the journal entry.I have solved it any QUERY contact me Jai brainly |
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