G Ltd. has 8,00,000, 12% Debentures of ₹100 each. During the year 2018-2019 the company purchased its own debentures from the open market for immediate cancellation are as follows: (i) Aug. 1, 2018: 15000 Debentures @ ₹9
CS Executive · Corporate and Management Accounting · PYQS · December 2019
G Ltd. has 8,00,000, 12% Debentures of ₹100 each. During the year 2018-2019 the company purchased its own debentures from the open market for immediate cancellation are as follows: (i) Aug. 1, 2018: 15000 Debentures @ ₹95.50 (ex-interest) (ii) Jan. 1, 2019: 25000 Debentures @ ₹101.50 (cum-interest) If debenture interest is payable on 30th September and 31st March every year, then the amount of profit or loss on cancellation of debentures will be:
Answer & Explanation:
Correct Answer: Option (D)
Official answer key: (D).
Topics: Company Accounts
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