Ownclasses

Pass necessary journal entries in the following cases:
(i) Z Ltd redeemed 1500, 12% debentures of Rs 100 each issued at a discount of 6% by converting them into equity shares of Rs 100 each issued at a premium of Rs 25 per share.
(ii) X Ltd. converted 1,000, 12% debentures of Rs 100 each issued at a discount of Rs 10 per debenture into equity shares of Rs 100 each Rs 90 paid up.

Answer

(i)                                                     Z Ltd.



(ii)