56 :- Pass necessary Journal entries relating to issue of debentures and to write off discount/loss on issue of debentures in the books of Dhatu Ltd. in the following cases :-
(i) 400, 11% Debentures of Rs 1,000 each are issued at 10% discount and redeemable at par. Balance in Securities Premium Account is Rs 50,000.
(ii) 500, 10% Debentures of Rs 1,000 each are issued at 10% discount and redeemable at a premium of 10% . Balance in Securities Premium Account is Rs 75,000.
Solution :-
