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Discount on issue of debentures is a __________
(a) Revenue loss to be charged in the year of issue
(b) Capital loss to be written off from capital reserve
(c) Capital loss to be written off over the tenure of the
debentures
(d) Capital loss to be shown as goodwill
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Answer / zareena akhtari
As per the Model Test Paper Book -1 issued by ICAI
the answer is: (C)
| Is This Answer Correct ? | 11 Yes | 1 No |
Answer / srikanth mudhiraj
(C). These loss will be transfer to P/L a/c every year equally till the debentures are redeemed.
| Is This Answer Correct ? | 1 Yes | 0 No |
"A" has two divisions of "B" and "c".In our system we have two vendor accounts of B&C.We have received one Non PO invoice of B and posted wrongly in C and its got paid.While reconciling the account we got this error is happend.We contacted the C and asked for refund.But C said,he transfer internally the amount directly to B and he will not refund the amount.How we will settle this entry in our books. If we reverse the entry...there is one invoice needs to be reverse and payment doc needs to be reverse..how we can settle this in our books...
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