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Redemption of debentures

In cum interest and ex interest I didn't understand the journal entries for 31 st march We want to see in whom point of view can u explain the journal


Kanaga Mani

Kanaga Mani

CA Inter

2K+

31-May-20 13:19

28

Answers (7)

Can you share the illustration?


Suraj Lakhotia

Suraj Lakhotia

Admin

31-May-20 19:33

In journal entry for Shyam He paid the interest then how interest receivable debited? Then explain the 3 journal entry

Attachments

IMG_20200531_115422.jpg

IMG_20200531_115718.jpg

IMG_20200531_115704.jpg

IMG_20200531_115713.jpg


Kanaga Mani

Kanaga Mani

CA Inter

2K+

31-May-20 20:16

It's not a question it's concept of ex and cum interest journal entries


Kanaga Mani

Kanaga Mani

CA Inter

2K+

01-Jun-20 08:20

In journal entry for Shyam He paid the interest then how interest receivable debited? Then explain the 3 journal entry

It is debited to Interest receivable because at a later date, the interest would be received against the payment made. At time of purchse Investment Dr Interest Receivable Dr To Bank


Suraj Lakhotia

Suraj Lakhotia

Admin

01-Jun-20 08:42

At time of receipt of interest Bank A/c To Interest Receivable [The earlier interest portion] To Interest Income [Actual Income attributable]


Suraj Lakhotia

Suraj Lakhotia

Admin

01-Jun-20 08:43

I got it tq sir


Kanaga Mani

Kanaga Mani

CA Inter

2K+

01-Jun-20 09:04

Happy Mother's Day
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