Indicate in the column below, the account to be credited in case of the following transactions
Indicate in the column below, the account to be credited in case of the following transactions
Transaction Account to be Credited
i. Debentures issued at a discount and are redeemable at par.
ii. Transfer of interest on sinking fund investments to sinking fund account.
iii. Balance of DRR account after the redemption of Debentures.
iv. Profit on sate of sinking fund investment account.
v. Writing off the loss on issue of debentures.
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Account to be Credited
i On Issue-Debenture A/c
On Redemption-Bank A/c .
ii. Sinking Fund A/c
iii. General Reserve A/c
iv. Profit transferred to Debenture Sinking Fund A/c
v. Loss on Issue of Debentures A/c
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