7 :- GT Ltd. Issued 5,000; 8% Debentures of Rs 100 each at a premium of 5% payable as follows :
Rs 10 on application; Rs 20 plus premium on allotment and balance on first and final call.
Pass necessary Journal entries.
Solution :-
7 :- GT Ltd. Issued 5,000; 8% Debentures of Rs 100 each at a premium of 5% payable as follows :
Rs 10 on application; Rs 20 plus premium on allotment and balance on first and final call.
Pass necessary Journal entries.
Solution :-