Model: Redemption by cancellation X Ltd. had 6% Rs.10,00,000 debentures outstanding in its books. On 1 April 2010 it had Rs.4,00,000 balance in sinking fund A/c exactly represented by 8% investment (nominal values) (Rs. 5,00,000). On 31 December .2010, it sold Rs.1,00,000, 9% investments at Rs.90,000 and with the amount on the same date purchased Rs.1,00,000 own debentures for immediate cancellation. On 31 March 2011, it sold Rs.50,000 8% investments for Rs.38,000 and with that amount purchased Rs.40,000 own debentures and cancelled them immediately. Interest date is 31 March 2011 for own debentures as well as for investments. Ignore tax. Annual appropriation entries for 31 March 2011 need not be passed. Prepare the necessary ledger accounts.
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.
Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.
Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.
