What is meant by Redemption of Debentures? Post category:Accountancy Reading time:1 mins read SOLUTION Redemption of debentures means repayment of the amount of debentures to debentureholders. In other words, redemption refers to discharge of Liability on account of debentures by repaying the due amount of debentures. Please Share This Share this content Opens in a new window Twitter Opens in a new window Facebook Opens in a new window Google+ 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 PostGlobe Ltd. issues 20,000, 9% debentures of Rs. 100 each at a discount of 5% redeemable at the end of 5 years at a premium of 6%. For what amount ‘Loss on Issue of Debentures Account’ will be debited? Next PostName two sources of finance for redemption of debenture. You Might Also Like A, B and C were partners in a firm having capitals of Rs. 50,000; Rs. 50,000 and Rs. 1,00,000 respectively. Their Current Account balances were A: Rs. 10,000; B: Rs. 5,000 and C: Rs. 2,000 (Dr.). According to the Partnership Deed the partners were entitled to an interest on Capital @ 10% p.a. C being the working partner was also entitled to a salary of Rs. 12,000 p.a. The profits were to be divided as: (a) The first Rs. 20,000 in proportion to their capitals. (b) Next Rs. 30,000 in the ratio of 5: 3: 2. (c) Remaining profits to be shared equally. The firm earned net profit of Rs. 1,72,000 before charging any of the above items. Prepare Profit and Loss Appropriation Account and pass necessary Journal entry for the appropriation of profits. October 11, 2022 A, B and C are partners sharing profits in the ratio of 5: 3: 2. D is admitted for l / 5th share. What will be the new profit-sharing ratio? September 26, 2022 X Ltd. forfeited 900 Equity Shares of Rs. 100 each for the non-payment of allotment money of Rs. 30 per share and the first call of Rs. 20 per share. The second and final call of Rs. 25 per share has not been made. The forfeited shares were reissued for Rs. 90 per share, Rs. 75 paid-up. Journalise the above. July 14, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
A, B and C were partners in a firm having capitals of Rs. 50,000; Rs. 50,000 and Rs. 1,00,000 respectively. Their Current Account balances were A: Rs. 10,000; B: Rs. 5,000 and C: Rs. 2,000 (Dr.). According to the Partnership Deed the partners were entitled to an interest on Capital @ 10% p.a. C being the working partner was also entitled to a salary of Rs. 12,000 p.a. The profits were to be divided as: (a) The first Rs. 20,000 in proportion to their capitals. (b) Next Rs. 30,000 in the ratio of 5: 3: 2. (c) Remaining profits to be shared equally. The firm earned net profit of Rs. 1,72,000 before charging any of the above items. Prepare Profit and Loss Appropriation Account and pass necessary Journal entry for the appropriation of profits. October 11, 2022
A, B and C are partners sharing profits in the ratio of 5: 3: 2. D is admitted for l / 5th share. What will be the new profit-sharing ratio? September 26, 2022
X Ltd. forfeited 900 Equity Shares of Rs. 100 each for the non-payment of allotment money of Rs. 30 per share and the first call of Rs. 20 per share. The second and final call of Rs. 25 per share has not been made. The forfeited shares were reissued for Rs. 90 per share, Rs. 75 paid-up. Journalise the above. July 14, 2022