can anyone give the journal entry with the amount
10 tv bought in the business for 1000 each, out of which
one is installed.
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Answer Posted / ashish agarwal
cash a/c dr 10000
to capital a/c 10000
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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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