Account
Register

Share

Books Shortlist

# Solution - On 1-4-2013 JN Ltd had 5,000, 10% Debentures of 100 each outstanding. (i) On 1-4-2014 the company purchased in the open market 2000 of its own debentures for 105 each and cancelled the same immediately. - Redemption of Debentures for Immediate Cancellation - Draw of Lots, Lump Sum and Purchase in the Open Market

ConceptRedemption of Debentures for Immediate Cancellation - Draw of Lots, Lump Sum and Purchase in the Open Market

#### Question

On 1-4-2013 JN Ltd had 5,000, 10% Debentures of 100 each outstanding.

(i) On 1-4-2014 the company purchased in the open market 2000 of its own debentures for 105 each and cancelled the same immediately.

(ii) On 1-4-2015 the company redeemed at par debentures of 1,00,000 by draw of a lot.

(iii) On 28-2-2016 the remaining debentures were purchased for immediate cancellation for 1,97,000

#### Solution

You need to to view the solution
Is there an error in this question or solution?

#### APPEARS IN

2015-2016 (March) Delhi Set 2
Question 15 | 6 marks

#### Video TutorialsVIEW ALL [2]

Solution for question: On 1-4-2013 JN Ltd had 5,000, 10% Debentures of 100 each outstanding. (i) On 1-4-2014 the company purchased in the open market 2000 of its own debentures for 105 each and cancelled the same immediately. concept: Redemption of Debentures for Immediate Cancellation - Draw of Lots, Lump Sum and Purchase in the Open Market. For the courses CBSE (Arts), CBSE (Commerce), CBSE (Science)
S