Question - 48

A Ltd. issued 50,00,000, 8% debentures of Rs. 100 at a discount of 6% jon April 01,2009 redeemable at premium of 4% by draw of lots as under:

  1. 20,00,000 debentures on March 2011.
  2. 10,00,000 debentures on March 2013.
  3. 20,00,000 debentures on March 2014.
Compute the amount of discount to be written off in each year till debentures are paid. Also prepare discount/ loss in issue of debenture account.

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