Question 10 Chapter 10 of +2-Part-1
10. (Partial redemption/Premium on redemption) On 31 May 2017, a company redeemed its 1200 9% Debentures of Rs, 100 each at 5% premium out of the total 6,000 debentures. Debenture Redemption Reserve stood at Rs. 1,10,000. Premium on redemption was existing Company Accounts (Redemption of Debentures) Rs. 30,000. You are required to pass journal entries
The solution of Question 10 Chapter 10 of +2 Part-1: –
Y Ltd. Journal |
|||||
Date | Particulars |
L.F. | Debit ₹ | Credit ₹ | |
Apr.30,17 | Debenture Redemption Investment A/c | Dr. | 90,000 | ||
To Bank A/c | 90,000 | ||||
(Being DRI made @ 15 % on Rs. 6,00,000) | |||||
May 31 | Statement of Profit & loss | Dr. | 40,000 | ||
To Debenture Redemption Reserve A/c | 40,000 | ||||
(Being DRR created 25% on Rs. 6,00,000 Less : Rs. 1,10,000) | |||||
9 % Debenture A/c | Dr. | 1,20,000 | |||
Premium on Redemption of Debentures A/c | 6,000 | ||||
To Bank A/c | 1,26,000 | ||||
(Being amount due) | |||||
Debenture holders A/c | Dr. | 1,26,000 | |||
To Bank A/c | 1,26,000 | ||||
(Being amount paid to debentures holders) | |||||
Note: DRI will be realised after the redemption of all debentures.
It all about Question 10 Chapter 10 of +2-Part-1, If you have any problem please comment below.
Redemption of Debentures – explained with an example
End of Solution
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The solution to all questions of Chapter No. 10 – Company Accounts (Redemption of Debentures) Class 12 Usha Publication – 2024 is shown as follows, click on the image of the question to get the solution.
Question 12 Chapter 10 of +2-Part-1 – USHA Publication 12 Class Part – 1
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Chapter-Wise Solution of Usha Publication Accountancy – Part 2 Class 12 – Session 2024-25 as per the PSEB curriculum
Check out Solutions to all questions of the every chapter shown as under. The Solution of Accountancy – Part 2 Class 12 – Session 2024-25 is provided as per the new book published by Usha Publication.
Chapter No. 8 – Company Accounts (Share Capital)
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Chapter No. 9 – Company Accounts (Issue of Debentures)
Chapter No. 10 – Company Accounts (Redemption of Debentures)
Chapter No. 11 – Financial Statements of a Company
Chapter No. 12 – Financial Statement Analysis
Chapter No. 13 – Tools of Financial Statement Analysis- Comparative and Common Size
Chapter No. 14 – Accounting Ratios
Chapter No. 15 – Cash Flow Statement
Also, Check out our Comprehensive Chapter-wise solution of Advanced Accountancy Part 2 Class 12 by Unimax Publication
- Chapter No. 1 – Company Accounts (Share Capital)
- Chapter No. 2 – Issue of Debentures
- Chapter No. 3 – Redemption of Debentures
- Chapter No. 4 – Financial Statements of a Company (Balance Sheet Only)
- Chapter No. 5 -Financial Statement Analysis
- Chapter No. 6 – Tools/Methods of Financial Analysis
- Chapter No. 7 – Ratio Analysis
- Chapter No. 8 – Cash Flow Statement
Check out Part 1 of both books.
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1. Accountancy – Part 1 Class 12 – Session 2024-25 By Usha Publication
2. Advanced Accountancy Part 1 Class 12 by Unimax Publication
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