A company issued at par 1,000 6% debentures of 1,000 each. Interest is payable half yearly on
Question:
A company issued at par 1,000 6% debentures of ₹1,000 each. Interest is payable half yearly on 30th September and 31st March.
On 01.02.1983, the company purchased 20 of its own debentures as investment at ₹970. Give the necessary journal entries, assuming the books are closed on 31st March. Ignore income tax.
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To record the purchase of 20 of its own debentures as an investment at 970 each on 01021983 you need ...View the full answer
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