- preference shares
- equity shares
- Types of shares
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BPL Ltd. converted 500, 9% debentures of Rs 100 each issued at a discount of 6% into equity shares of Rs 100 each issued at a premium of Rs 25 per share. Discount on issue of 9% debentures has not yet been written off. Showing your working notes clearly, pass necessary journal entries for conversion of 9% debentures into equity shares.