accounting In 2018, Royal Ltd. issued 12% fully paid debentures of 100 each,...
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Accounting
accounting
In 2018, Royal Ltd. issued 12% fully paid debentures of 100 each, interest being payable half yearly on 30th September and 31st March of every accounting year. On 1st December, 2019, M/s. Kumar purchased 10,000 of these debentures at 101 (cum-interest) price. On 1st March, 2020 the firm sold all of these debentures at 3106 (cum-interest) price. You are required to prepare Investment (Debentures) Account in the books of M/s. Kumar for the period 1st December, 2019 to 1st March, 2020
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