Question 4 Chapter 10 of +2-Part-1
4. (Journal) On 31 March 2017, an unlisted company has Rs. 15,00,000 10% Debentures outstanding. These are to be redeemed on 30th June, 2018. Ignore interest and tax. Pass Journal entries.
The solution of Question 4 Chapter 10 of +2 Part-1: –
| Journal |
|||||
| Date | Particulars |
L.F. | Debit ₹ | Credit ₹ | |
| 2018 Apr. 30 | Debenture Redemption Investment A/c | Dr. | 2,25,000 | ||
| To Bank A/c | 2,25,000 | ||||
| (Being the investment made @ 15% on Rs. 15,00,000) | |||||
| June 30 | Statement of Profit & loss | Dr. | 3,75,000 | ||
| To Debenture Redemption Investment A/c | 3,75,000 | ||||
| (Being 25% of 15,00,0000 created as DRR) | |||||
| June 30 | 10% Debenture A/c | Dr. | 15,00,000 | ||
| To Debenture holders A/c | 15,00,000 | ||||
| (Being debentures due ) | |||||
| Bank A/c | Dr. | 2,25,000 | |||
| To Debenture Redemption Investment A/c | 2,25,000 | ||||
| (Being the investment sold ) | |||||
| Debenture Holder A/c | Dr. | 15,00,000 | |||
| To Bank A/c | 15,00,000 | ||||
| (Being payment made to debenturesholders) | |||||
| Debenture Redemption Investment A/c | Dr. | 3,75,000 | |||
| To General Reserve A/c | 3,75,000 | ||||
| (Being DRR transferred ) | |||||
It all about Question 4 Chapter 10 of +2-Part-1, If you have any problem please comment below.
Redemption of Debentures – explained with an example
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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)
Chapter No. 9 – Company Accounts (Issue of Debentures)
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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
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