Internal reconstruction..
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 September 2011
debenture holder agreed to take over freehold property book value rs 100000 at a valuation 120000 in part payment of their holdings & to provide additional cash of 130000 secured by a floating charges on companys asset at an interest of 8% pa.. amount of freehold property is 425000 6% dentures rs 3750000...can u tell me journal entry for internal reconstruction please
01 September 2011
1) Debebture Dr.100000
Loss on redempotion of debenture Dr. 20000
To Freehold property 120000
2)Cash/Bank Dr 130000
To 8% Debentures 130000
The last part of your question is not clear
Loss on redempotion of debenture Dr. 20000
To Freehold property 120000
2)Cash/Bank Dr 130000
To 8% Debentures 130000
The last part of your question is not clear
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 September 2011
sir
in trial balance freehold property is for rs 425000 and 6% debenture is for 375000..
in trial balance freehold property is for rs 425000 and 6% debenture is for 375000..
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