On 1.1.2017, 6%, 200 Debentures of 100 each in Y Ltd., were held as investments by X
Question:
On 1.1.2017, 6%, 200 Debentures of ₹100 each in Y Ltd., were held as investments by X Ltd. at a cost of ₹18,200. Interest is payable on 31st December. On 1.4.2017, ₹4,000 of such debentures were purchased by X Ltd. @ ₹98 and on 1.9.2017 ₹6,000. Debentures were sold at ₹96 ex-interest. On 1.12.2017 ₹8,000 Debentures were sold @ ₹99 cum-interest. On 31.12.2017, X Ltd. sold ₹10,000 Debentures @ ₹95. Prepare Investment Account for 6% Debentures of Y Ltd. in the books of X Ltd. Ignore income-tax.
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To prepare the Investment Account for the 6 Debentures of Y Ltd in the books of X Ltd well record th...View the full answer
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Related Book For 
Financial Accounting Volume II
ISBN: 9789387886230
4th Edition
Authors: Mohamed Hanif, Amitabha Mukherjee
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