Page 30 - 23. COMPILER QB - IND AS 109_32

31-Mar-20X3 420,920 66,758 150,000 3,37,678
31-Mar-20X4 337,678 53,556 150,000 2,41,234

31-Mar-20X5 241,234 38,260 150,000 1,29,494
31-Mar-20X6 129,494 20,506 150,000 -

d. Journal Entries to be recorded for entire term of arrangement are as follows:
Date Particulars Debit Credit
01-Apr-20X1 Bank A/c Dr. 1,470,000

To Preference Shares A/c 492,767
To Equity Component of Preference Shares A/c 977,233
(Being compulsorily convertible preference shares issued.

The same are divided into equity component & liability
component as per the calculation)
31-Mar-20X2 Preference shares A/c Dr. 150,000

To Bank A/c 150,000
(Being Dividend at the coupon rate of 10% paid to the

shareholders)

31-Mar-20X2 Finance cost A/c Dr. 78,153
To Preference Shares A/c 78,153
(Being interest as per EIR method recorded)

31-Mar-20X3 Preference shares A/c Dr. 150,000
To Bank A/c 150,000
(Being Dividend at the coupon rate of 10% paid to the

shareholders)
31-Mar-20X3 Finance cost A/c Dr. 66,758
To Preference Shares A/c 66,758

(Being interest as per EIR method recorded)
Preference shares A/c Dr. 150,000
31-Mar-20X4 To Bank A/c 150,000

(Being Dividend at the coupon rate of 10% paid to the
shareholders)

31-Mar-20X4 Finance cost A/c Dr. 53,556
To Preference Shares A/c 53,556
(Being interest as per EIR method recorded)
Preference shares A/c Dr. 150,000

31-Mar-20X5 To Bank A/c 150,000
(Being Dividend at the coupon rate of 10% paid to the

shareholders)
31-Mar-20X5 Finance cost A/c Dr.
38,260
23. 29