InterviewSolution
Saved Bookmarks
| 1. |
S. Singh Limited obtained a loan of ₹ 5,00,000 from State Bank of India 10% p.a. interest. The company issued ₹ 7,50,000, 10% Debentures of ₹ 100 each in favour of State Bank of India as Collateral Security. Pass necessary Journal entries for the above transactions:(i) When company decided not to record the issue of 10% Debentures as Collateral Security.(ii) When company decided to record the issue of 10% Debentures as Collateral Security. |
|
Answer» S. Singh Limited obtained a loan of ₹ 5,00,000 from State Bank of India 10% p.a. interest. The company issued ₹ 7,50,000, 10% Debentures of ₹ 100 each in favour of State Bank of India as Collateral Security. Pass necessary Journal entries for the above transactions: (i) When company decided not to record the issue of 10% Debentures as Collateral Security. (ii) When company decided to record the issue of 10% Debentures as Collateral Security. |
|