Account
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 December 2011
Frends
Pls explain nature of premium on redemption of Debenture .
As per Me
its Personal Nature B,coz
Debenture Dr.
Prem.on redem of Deb Dr.
To Debenture Holder A/c
Pls explain nature of premium on redemption of Debenture .
As per Me
its Personal Nature B,coz
Debenture Dr.
Prem.on redem of Deb Dr.
To Debenture Holder A/c
08 December 2011
Premium paid on redemption of debenture is an expense that a company has to incur because of an agreement in advance with the debenture holders and as such is Nominal in nature and according to the accounting rules Debit all Expense & Losses therefore Premium paid on redemption is debited.
CA. Richi Saxena
CA. Richi Saxena
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