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On 1.1.2017, 6%, 200 Debentures of 100 each in Y Ltd., were held as investments by X Ltd. at a

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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 we ll record t…View the full answer


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Related Book For  answer-question
Financial Accounting Volume II

Financial Accounting Volume II

ISBN: 9789387886230

4th Edition

Authors: Mohamed Hanif, Amitabha Mukherjee

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Question Details
Chapter # 10- Investment Accounts
Section: Practical Question
Problem: 4
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Question Posted: August 25, 2023 03:20:05
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