Question 3 Chapter 10 of Class 12 Part – 2 – 2024

Question 3 Chapter 10 of Class 12 Part – 2 – 2024

3. (Amount of DRR/Journal) Punjab National Bank has Outstanding Balance of 3,000 9% Debentures of Rs. 100 each on 31st March, 2015. These are redeemable on 20th August, 2016. How much DRR will be created? Pass entries in Journal for redemption.

The solution of Question 3 Chapter 10 of Class 12 Part – 2 – 2024: -

We are providing a solution of Question 3 Chapter 10 of Class 12 Part – 2 Usha Publication in two formats. one is in Video format and another is in article format. Check out both formats as follows:

1. Check out the Solution of this question in Video Format:-

The video consists solution of question numbers from 1 to 5 Chapter no. 10 class 12 of Usha publication. To check the direct solution of question no. 3 from the following video by using time stamps of the video.

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2. Check out the Solution of Question 3 Chapter 10 of Class 12 Part – 2 – 2024 in Article Format:-​

Journal

Date	Particulars		L.F.	Debit ₹	Credit ₹
	9 % Debenture Application A/c	Dr.		3,00,000
	To Debenture holders A/c				3,00,000
	(Being amount due to debentures holders)
	Debenture Holder A/c	Dr.		3,00,000
	To Bank A/c				3,00,000
	(Being payment made)

Note : Bank are exempted to create Debentures Redemption Reserve under Rule 18 (7) of Companies Act ,2014 . Hence, in this case Punjab National Bank will not create any DRR