AB Ltd. has 5,00,000, 9% debentures outstanding on 1 st January 2006. The company has been redeeming

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AB Ltd. has ₹5,00,000, 9% debentures outstanding on 1st January 2006. The company has been redeeming every year on 1st January ₹1,00,000 debentures by drawings by lot, at par. Pass necessary journal entries: 

(a). If the redemption is out of profits. 

(b). If the redemption is out of capital.

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Related Book For  answer-question

Corporate Accounting

ISBN: 9789353160739

1st Edition

Authors: Anita Raman, P. Radhika

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