ABC Ltd. issued 5000 8% Debentures of Rs 100 each payable as follows Rs 20 on Application Rs 30 on Allotment Rs. 50 on First and Final call All the debentures were applied for and allotted. All the calls were duly received. Make necessary journal entries in the books of the company in detail

ABC Ltd. issued 5000 8% Debentures of Rs 100 each payable as follows Rs 20 on Application Rs 30 on Allotment Rs. 50 on First and Final call All the debentures were applied for and allotted. All the calls were duly received. Make necessary journal entries in the books of the company in detail

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Make necessary journal entries in the books of the company in detail

Definition Definition Method of recording financial transactions in the book of original entry by debiting and crediting the accounts affected by a transaction using the golden rules of accrual accounting.

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