Tag: book keeping and accountancy

On May $01$, $2005$ U Ltd. issued six per cent, $10,000$ convertible debentures of Rs. $100$ each at a premium of $20\%$ Interest is payable on September $30$ and March $31$ every year. Assuming that the interest runs from the date of issue, the amount of interest expenditure debited to profit and loss account for the year ended March $31$, $2006$, will be.

On May $01$, $2003$, Y Ltd. issued $7\%$ $40,000$ convertible debentures of Rs. $100$ each at a premium of $20\%$. Interest is payable on September $30$ and March $31$, every year. Assuming that the interest runs from the date of issue, the amount of interest expenditure debited to profit and loss account for the year ended March $31$, $2004=?$

T Ltd. purchased land and building from U Ltd. for a book value of Rs. $3,00,000$. The consideration was paid by issue of $12\%$ Debentures of Rs. $100$ each at a discount of $20\%$. The debentures account is credited with.

G Ltd purchased land and building from H Ltd. at a book value of Rs. 2,00,000. The consideration was paid by issue of 12% debentures of Rs. 100 each at a discount of 20%. For this transaction, the debentures account would be credited with -