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Mr. A purchased a car worth of rupees 2,00,000 on cash than
what would be the entry
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Answer Posted / shilpa
purchases a/c dr 200000
to cash a/c 200000
| Is This Answer Correct ? | 5 Yes | 22 No |
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AT THE TIME OF REDEMPTION OF DEBENTURES. WHEN THERE IS PROFIT/LOSS ON SALE OF DEBENTURES WE TRANSFER THAT AMOUNT IN PROFIT AND LOSS A/C BUT WHEN WE CANCEL OUR DEBENTURES AFTER BUYING IT FROM OPEN MARKET THE DIFFERENCE BETWEEN MARKET VALUE AND COST OF DEBENTURES TRANSFER TO "CAPITAL RESERVE ACCOUNT .. WHY SO ANY PRACTICAL ANSWER ??
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