Question 33 Chapter 10 of +2-Part-1
33. (Purchases of own debentures/Journal) A company purchased as investment 500 10% Debentures of Rs. 100 each at Rs. 98 on 1 April 2015. Interest is payable annually on 31 March. These debentures were cancelled on 31 March, 2016. Pass entries.
The solution of Question 33 Chapter 10 of +2 Part-1:-
| Satish Ltd. Journal |
|||||
| Date | Particulars |
L.F. | Debit ₹ | Credit ₹ | |
| 2015 | |||||
| Apr. 1 | Own Debentures A/c | Dr. | 49,000 | ||
| To Bank A/c | 49,000 | ||||
| (Being 200 debentures purchased as investment) | |||||
| 2016 | |||||
| Mar. 31 | 10 % Debentures A/c | Dr. | 50,000 | ||
| To Own Debentures A/c | 49,000 | ||||
| To Profit on Redemption A/c | 1,000 | ||||
| (Being own debentures cancelled) | |||||
| 2016 | |||||
| Mar. 31 | Profit on Redemption A/c | 1,000 | |||
| To Capital Reserve A/c | 1,000 | ||||
| (Being profit on redemption transferred to Capital Reserve) | |||||
It all about Question 33 Chapter 10 of +2-Part-1, If you have any problem please comment below.
Redemption of Debentures – explained with an example
End of Solution
Check Out the Solution of all questions of this chapter:
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 14 Chapter 10 of +2-Part-1 – USHA Publication 12 Class Part – 1
Advertisement-X
Advertisement-Y
Thanks for completing the chapter. If you understand the question or we have helped you with your homework, please share our website on your social media. We are delighted to help you out.
Thanks again.
End of Post
Download a PDF of Chapter No. 10 – Company Accounts (Redemption of Debentures):
If you want to download a PDF of this chapter then you can do it. Check out our PDF file on our Store page.
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)
Chapter No. 9 – Company Accounts (Issue of Debentures)
Chapter No. 10 – Company Accounts (Redemption of Debentures)
Advertisement-X
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.
In Class 12th the accountancy has 2 books i.e. Part 1 and Part 2. The Books related to the Part 1 are shown above. but If you want to know more about Part 1, you can check it out from the following links. We have provided the links to both books i.e. Accountancy Part 1 by Usha Publication and Advanced Accountancy Part 2 by Unimax Publication.
1. Accountancy – Part 1 Class 12 – Session 2024-25 By Usha Publication
2. Advanced Accountancy Part 1 Class 12 by Unimax Publication