doubt
This query is : Resolved
22 December 2010
: x-purchasing company
y-selling company
please explain me wht it saying?
the issue of such as amount of fully paid 14 percent debentures inx ltd at 96 percent as is sufficient to discharge 12 percent debentures I y ltd. At a premium of 20 percent
experts what 96 percent saying ? how to deal this?
y-selling company
please explain me wht it saying?
the issue of such as amount of fully paid 14 percent debentures inx ltd at 96 percent as is sufficient to discharge 12 percent debentures I y ltd. At a premium of 20 percent
experts what 96 percent saying ? how to deal this?
22 December 2010
96% means paid up value of debenture.
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22 December 2010
but he is saying isue of fully paid debentures
23 December 2010
suppose debenture of Y is Rs.100 then agreed consideration is 120 i.e. at 20% premium.then 120 shall be considered 96%.
Entries
Purchase consideration Dr. 120
To Y ltd. 120
Y lTD. Dr. 120
Discount on Debenture Dr. 5
To 14% Debenture 125
Entries
Purchase consideration Dr. 120
To Y ltd. 120
Y lTD. Dr. 120
Discount on Debenture Dr. 5
To 14% Debenture 125
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