Pass necessary journal entries relating to issue of debentures and to write off discount/loss on issue of debentures in the books of Ajanta Ltd. in the following cases:
- 200, 9% debentures of Rs. 1,000 each are issued at 10% discount and redeemable at par. Balance in Securities Premium account is Rs.15,000.
- Rs. 300, 11% debentures of Rs. 1,000 each are issued at 5% discount and redeemable at a premium of 10%. Balance in Securities Premium account is Rs. 35,000.
Marks-6, CBSE: 2023-24/Zone-4/Set-1/Q-26
Answer :
