On 1.1.2016 Debentures in X Ltd. were held as investment by Y Ltd. to the tune of
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On 1.1.2016 Debentures in X Ltd. were held as investment by Y Ltd. to the tune of ₹ 15,000 at the cost of ₹ 16,000. Interest is payable half yearly on 30th June and 31st December. On 1.5.2016 ₹ 6,000 Debentures were purchased at ₹ 5,200 ex-interest and ₹ 3,000 at ₹ 3,060 ex-interest on 1.10.2016. On 1.12.2016 ₹ 2,000 Debentures were sold for ₹ 2,030 ex-interst. Show the Investment Account in the books of Y Ltd. Accounts are closed on 31st December every year.
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To prepare the Investment Account for Y Ltds holding of Debentures in X Ltd we need to record all th...View the full answer
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Deepak Sharma
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Related Book For 
Corporate Accounting As Per The Companies Act 2013 Including Rules 2014 And 2015
ISBN: 9789352605569
2nd Edition
Authors: M Hanif, A Mukherjee
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