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Solution - Accounting for Debentures - Conversion Method

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Question

Pass necessary journal entries in the following cases :

i. Z Ltd redeemed 1500, 12% debentures of Rs.100 each issued at a discount of 6% by converting them into equity shares of Rs.100 each issued at a premium of Rs.25 per share.

ii. X Ltd. converted 1,000, 12% debentures of Rs.100 each issued at a discount of Rs.10 per debenture into equity shares of Rs.100 each Rs.90 paid up.

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Appears in these question papers

Solution for concept: Accounting for Debentures - Conversion Method. For the courses 12th CBSE (Arts), 12th CBSE (Commerce), 12th CBSE (Science)
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