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in Company Accounts - Issue of Shares and Debentures by (63.7k points)

Give necessary journal entries for issue of debentures in the following cases :
(I) A company issued 1,000, 12% Debentures of Rs 100 each at par, redeemable at par.
(II) A company issued 2,000, 8% Debentures of Rs 100 each at discount of 10%, redeemable at par.
(III) A company issued 5,000, 7% Debentures of Rs 100 each at a premium of 5%, redeemable at par.
(IV) A company issued 3,000, 6% Debentures of Rs 100 each at par, redeemable at 5% premium.
(V) A company issued 4,000, 8% Debentures of Rs 100 each at a discount of 2%, redeemable at 6% premium.
(VI) A company issued 5,000, 7% Debentures of Rs 100 each at a discount of 5%, redeemable at 6% premium.

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Journal Entries


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