(a) A company issued $ 500,000 6% debenture at par redeemable at par. (b) A company issued $ 500,000 6% debenture at 10% discount redeemable at par. (c) A company issued $ 500,000 6% debenture at 5% premium redeemable at par. (d) A company issued $ 500,000 6% debenture at par redeemable at 10% premium. (e) A company issued $ 500,000 6% debenture at 10% discount redeemable at 5% premium.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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[6:00 pm, 28/04/2021] +92 302 2797988: Q.No.2

What journal entries Punjab Corporation is made in the following cases. Also, prepare a balance sheet for each. You are also required to pass the journal entries following cases with total debentures are 4221 (total no. of debentures) and $100 each 6% debenture.

(a) A company issued $ 500,000 6% debenture at par redeemable at par.

(b) A company issued $ 500,000 6% debenture at 10% discount redeemable at par.

(c) A company issued $ 500,000 6% debenture at 5% premium redeemable at par.

(d) A company issued $ 500,000 6% debenture at par redeemable at 10% premium.

(e) A company issued $ 500,000 6% debenture at 10% discount redeemable at 5% premium.

 

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