Sarthaks Test
0 votes
66 views
in Accounts by (64.1k points)
edited by

Indicate in the column below, the account to be debited in case of the following transactions. 

Transaction Account to be Debited

i. Issue of debentures to a vendor in consideration of the business purchase. 

ii. Setting aside the amount for creating sinking fund for redemption of debentures. 

iii. The balance of debenture redemption reserve account after redemption of the debentures.

 iv. Purchase of own debentures by the company. 

v. Writing off discount on issue of debentures.

1 Answer

0 votes
by (106k points)
selected by
 
Best answer

Account to be Debited

i. Vendor A/c

ii. Profit and Loss Appropriation A/c

iii. Debenture Redemption Reserve A/c

iv. Own debentures A/c

v. Profit and Loss A/c

Welcome to Sarthaks eConnect: A unique platform where students can interact with teachers/experts/students to get solutions to their queries. Students (upto class 10+2) preparing for All Government Exams, CBSE Board Exam, ICSE Board Exam, State Board Exam, JEE (Mains+Advance) and NEET can ask questions from any subject and get quick answers by subject teachers/ experts/mentors/students.

Categories

...