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Accountancy > accounting-for-companies > Redemption Of Debentures
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Question 1
Pass necessary journal entries in the following cases: (i) Sunrise Ltd. converted 500, 9% debentures of Rs 100 each issued at a discount of 10% into equity shares of Rs 100 each issued at a premium of 25%. (ii) Britannia Ltd. redeemed 3,000, 12% debentures of Rs 100 each which were issued at a discount of Rs 10 per debenture by converting them into equity shares of Rs 100 each Rs 90 paid up.
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