G Ltd., issued 10,00012% debentures of 100 each at a discount of 5% repayable after 5 years

Question:

G Ltd., issued 10,00012% debentures of ₹100 each at a discount of 5% repayable after 5 years at a premium of 5%. Give journal entries both at the time of issue and redemption of debentures.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Corporate Accounting

ISBN: 9789353160739

1st Edition

Authors: Anita Raman, P. Radhika

See More Books

Question Posted: Aug 31, 2023 12:10 PM

See More Questions

Gowtham Ltd. issued 6,000 12% debentures of 100 each, at a discount of 5%, repayable after 5 years at a premium of 5%. Give journal entries both at the time of issue and redemption of debentures.
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
As an individual, reflect on and discuss the importance of diversity in teams and the relationship of diversity to teams spread across a large area. What sort of cultural considerations should you...
1. What is Ladures target market and retail strategy in the United States? 2. Explain the reasons Ladure owns its stores in some countries and uses franchising with local licensees in others. 3....
Marjorie is single and has the following investment income: Interest on savings ..... $2,900 Municipal bond interest .... 1,500 Dividends .......... 7,600 She pays investment interest expense of...
If a project requires an additional investment in working capital, how should this be treated when calculating the projects cash- flows?
If the Australian Mining Corporation earned A$$550,000$ (Australian dollar) in net income, spent A$$110,000$ in cost of goods sold, had A$$45,000$ of general and administrative expenses,...
Answer the following multiple-choice questions: Required a. Notes to financial statements are beneficial in meeting the disclosure requirements of financial reporting. The notes should not be used to...
18 years ago, I purchased 185 shares of a stock worth $14.25 per share. There was a 2:1 split, a 4:1 split, and a 3:1 split during that time period. Today the stock is worth $1.53 per share. If the...
How do you deal with Discount on Issue of Debenture in accounts?
True or False. Gain on sale of sinking fund investment is to be credited to sinking fund account.
Save the changes permanently to the database.
Go to: www.fhfa.gov. What is the interest rate on a 30year fixedrate mortgage? What is the rate on a 15year mortgage? Why is the first above the second?
Why do many investors seek to acquire an investment portfolio representative of the broad market, such as the S&P 500 index of stocks?
How would your answer to question 9 change under the term premium hypothesis? Data from question 9 Under the expectations hypothesis of the term structure, what does a positively sloped yield curve...
What is the role of restrictive covenants in a bond indenture? What are some common covenants?
Mutual funds have a wide variety of investment strategies. And in a particular quarter or over a particular year, some will have substantially higher returns than others. Would you expect these same...
What is the difference between a merger and a consolidation?
Kims Konstructions has assembled the following data for a proposed straw-reinforced brick maker (SRBM): SRBM Cost: $26,000 Life: 5 years Revenue (p.a.) $11,000 Operating Expenses (p.a.) $3,000...
The Balance Sheet of Y Ltd. stood as follows as on: You are given the following information for the year 2015-16: Sales 600; PBIT 150; Interest 24; Provision for Tax 60; Proposed Dividend 30. All the...
The following extracts of financial information relate to Curious Ltd. (figures in lakhs): (i) Calculate, for the two years Debt Equity Ratio, Quick Ratio and Working Capital Turnover Ratio; and...
Following items appear in the accounts of X Ltd. as on 31st March, 2016: The value of all fixed assets reflect current price levels and adequate depreciation has been provided. You are required to...
A car manufacturer claims that a super sports car of mass 800 kg will accelerate uniformly from rest to a speed of 35 m/s in 8 s. What is the net work on the car during this acceleration
Find the center of mass for particles of mass 4 , 2 and 5 located at ( 1 , 2 ) , ( 3 , 4 ) and ( 4 , 0 ) respectively.
the electric field induced due to a charged particle has a strength if 2500. C/C at a location 2.1 m away from the particle . how much elevtruc charge id ob the particle

G Ltd., issued 10,00012% debentures of 100 each at a discount of 5% repayable after 5 years

Question:

Step by Step Answer:

Lets break down the journal entries for the issuance and redemption of debentures by G Ltd At the ti...View the full answer

Corporate Accounting

Students also viewed these Business questions