kinldy solve my problem in accounts cc paper ques 1(iii)
on 31st march mohini ltd issued 4000 7% debentures of rs500 each at rs 475 each debentureholders had an option to convert their holding into 8% preference shares of rs 100 each at a premium of rs 25 per share on 31st march 2008 one years interest had accrued on these debentures and remained unpaid.
a holder of 100 debentures notified his intention to convert his holding into 8 % preference shares.
jpurnalise the above transactions and prepare the balance sheet as on 31st march 2008 showing the relevant items
kindly help.
CAclubindia
