Debentures
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 April 2010
On 1.04.09 P Ltd issued 1000, 15% Debentures of Rs.100 each at a discount of 10% redeemable at par.
Required to show discount on issue of debentures A/c if (a)such debentures are redeemable after 4 years and B)such debentures are redeemable by each annual drawings in 4 years.A Ltd follows financial year as its accounting Year.
Required to show discount on issue of debentures A/c if (a)such debentures are redeemable after 4 years and B)such debentures are redeemable by each annual drawings in 4 years.A Ltd follows financial year as its accounting Year.
13 April 2010
the amount of discount is Rs. 10,000.it will be expensed as follows :
(a) In case debentures are redeemable after 4 years, the amount of discount will be written off as per SLM i.e. Rs. 2,500 per annum.
(b) If the debentures are redeemable by annual drawings in 4 years then discount will be written off in the ratio of outstanding balance at the beginning of each year which , in this case, will be Rs. 1,00,000 , Rs, 75,000, Rs, 50,000 and Rs. 25,000. that is the amount Of Rs. 10,000 will be written off in 4:3:2:1.
Regards, CA Shakuntala Chhangani
(a) In case debentures are redeemable after 4 years, the amount of discount will be written off as per SLM i.e. Rs. 2,500 per annum.
(b) If the debentures are redeemable by annual drawings in 4 years then discount will be written off in the ratio of outstanding balance at the beginning of each year which , in this case, will be Rs. 1,00,000 , Rs, 75,000, Rs, 50,000 and Rs. 25,000. that is the amount Of Rs. 10,000 will be written off in 4:3:2:1.
Regards, CA Shakuntala Chhangani
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Supply through E-commerce Operators
- Rent lease agreement
- Relief u/s Section 89
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Sales return eway bill
- REGARDING GST LIABILITY/....
- Is E Way Bill Valid If Transport ID Not Mentioned in PART A But Vehicle details mentioned in PART B
- STCG on ETF gold & silver
- If there is Long term capital gain exists how much total income to be considered
- Is it compulsory to File 10E if Income including Pension Arrears is below 12 Lakh for the F Y 25 26
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
