Question 2 Chapter 10 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 2 Chapter 10 of +2-Part-1

2. (Amount of DRR/Journal) ICICI issued 5,000, 10%. Debentures of Rs. 100 each on 1st April, 2019, How much amount of DRR is required before the redemption Record redemption entries in Journal.

The solution of Question 2 Chapter 10 of +2 Part-1: –

Journal
Date	Particulars		L.F.	Debit ₹	Credit ₹
	10 % Debenture Application A/c	Dr.		5,00,000
	To Debenture holders A/c				5,00,000
	(Being debentures due on redemption)
	Debenture Holder A/c	Dr.		5,00,000
	To Bank A/c				5,00,000
	(Being payment made)

Note : Financial Institutions like ICICI are exempted from crating Debenture Redemption Reserve under Rule 18 (7) of Companies Act , 2014

It all about Question 2 Chapter 10 of +2-Part-1, If you have any problem please comment below.

Redemption of Debentures – explained with an example

You can also Check out the solved question of other Chapters: –

Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution

• Chapter No. 1 – Accounting Not for Profit Organisations
• Chapter No. 2 – Partnership Accounts – I (Introduction)
• Chapter No. 3 – Partnership Accounts – II (Goodwill: Nature and Valuation)
• Chapter No. 4 – Partnership Accounts – III (Reconstitution of Partnership)
• Chapter No. 5 – Partnership Accounts – IV (Admission of A Partner)
• Chapter No. 6 – Partnership Accounts – V (Retirement and Death of A Partner)
• Chapter No. 7 – Partnership Accounts – VI (Dissolution of Partnership Firm)
• Chapter No. 8 – Company Accounts (Share Capital)
• Chapter No. 9 – Company Accounts (Issue of Debentures)
• Chapter No. 10 – Company Accounts (Redemption of Debentures)

Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution

• Chapter No. 1 – Financial Statements of a Company
• Chapter No. 2 – Financial Statement Analysis
• Chapter No. 3 –  Tools of Financial Statement Analysis- Comparative and Common Size
• Chapter No. 4 – Ratio Analysis
• Chapter No. 5 – Cash Flow Statement