Name any two Companies are exempted from creating Redemption Reserve’ by the SEBI. Post category:Accountancy Reading time:1 mins read SOLUTION (i) Debentures issued by All India Financial Institutions registered with RBI; and (ii) Banking Companies. Please Share This Share this content Opens in a new window X Opens in a new window Facebook Opens in a new window Pinterest Opens in a new window LinkedIn Opens in a new window Viber Opens in a new window VK Opens in a new window Reddit Opens in a new window Tumblr Opens in a new window Viadeo Opens in a new window WhatsApp Read more articles Previous PostWhat is meant by redemption of debentures out of Profits? Next PostWhat is meant by redemption of debentures by lump sum payment? You Might Also Like Bright Ltd. took over the assets of Rs. 6,60,000 and liabilities of Rs. 80,000 of Star Ltd. for an agreed purchase consideration of Rs. 6,00,000 payables 10% in cash and the balance by the issue of 12% Debentures of Rs. 100 each. Give necessary Journal entries in the books of Bright Ltd., assuming that: Case (a): The debentures are issued at par. Case (b): The debentures are issued at 20% premium. Case (c): The debentures are issued at 10% discount. July 16, 2022 A and B are partners. A’s Capital is Rs. 1,00,000 and B’s Capital is Rs. 60,000. Interest on capital is payable @ 6% p.a. B is entitled to a salary of Rs. 3,000 per month. Profit for the current year before interest and salary to B is Rs. 80,000. Prepare Profit and Loss Appropriation Account. July 20, 2022 State any three circumstances other than:-(i) admission of a new partner; (ii) retirement of a partner and (iii) death of a partner, when need for valuation of goodwill of a firm may arise. September 26, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Bright Ltd. took over the assets of Rs. 6,60,000 and liabilities of Rs. 80,000 of Star Ltd. for an agreed purchase consideration of Rs. 6,00,000 payables 10% in cash and the balance by the issue of 12% Debentures of Rs. 100 each. Give necessary Journal entries in the books of Bright Ltd., assuming that: Case (a): The debentures are issued at par. Case (b): The debentures are issued at 20% premium. Case (c): The debentures are issued at 10% discount. July 16, 2022
A and B are partners. A’s Capital is Rs. 1,00,000 and B’s Capital is Rs. 60,000. Interest on capital is payable @ 6% p.a. B is entitled to a salary of Rs. 3,000 per month. Profit for the current year before interest and salary to B is Rs. 80,000. Prepare Profit and Loss Appropriation Account. July 20, 2022
State any three circumstances other than:-(i) admission of a new partner; (ii) retirement of a partner and (iii) death of a partner, when need for valuation of goodwill of a firm may arise. September 26, 2022