XL Limited (XXL) has issued 20,000 10% debentures of face value 100 each, each debenture is
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XL Limited (XXL) has issued 20,000 10% debentures of face value ₹ 100 each, each debenture is convertible into two equity shares after 12 months from the date of issue of debenture. Rate of interest on similar debentures without conversion option is 12% per annum. Show how it is to be recognized.
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This is compound instrument as it generates an obligation to pay the interest for one ...View the full answer
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