Question 23 Chapter 10 of +2-Part-1
23. (Ledger Accounts/Sinking Fund) On 31.3.2017 the following balances appeared in the books of Sun Light company.
| 12% Debentures | 5,00,000 |
| Debenture Redemption Fund | 3,90,000 |
| 10% Debenture Redemption fund Investment | 3,90,0,0 |
On this date all the investments were sold at Rs. 3,95,000 and the debentures were redeemed.
Prepare leager accounts.
The solution of Question 23 Chapter 10 of +2 Part-1:-
12% Debentures Account
| Date | Particulars | ₹ | Date | Particulars | ₹ |
| 2013 | 2013 | ||||
| Mar. 31 | To Bank A/c | 5,00,000 | Mar. 31 | By Balance B/d | 5,00,000 |
| 1,00,000 | 1,00,000 |
Debentures Redemption Fund Account
| Date | Particulars | ₹ | Date | Particulars | ₹ |
| 2013 | 2013 | ||||
| Mar. 31 | To General Reserve | 3,90,000 | Mar. 31 | By Balance b/d | 3,90,000 |
| To Capital Reserve | 5,000 | By Deb. Red. Fund Investment A/c | 5,000 | ||
| 3,95,000 | 3,95,000 |
10 % Debentures Redemption Fund Investment Account
| Date | Particulars | ₹ | Date | Particulars | ₹ |
| 2013 | 2013 | ||||
| Mar. 31 | To Balance b/d | 3,90,000 | Mar. 31 | By Bank A/c | 3,95,000 |
| To Sinking Fund A/c | 5,000 | ||||
| 3,95,000 | 3,95,000 |
It all about Question 23 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