Question 5 Chapter 10 of +2-Part-1
5. (Redemption in Lumpsum) An unlisted company has to redeem Rs. 6,00,000 10% redeemable debentures on 31 May, 2016. Journalise the redemption entries assuming all legal requirements are met by the company.
The solution of Question 5 Chapter 10 of +2 Part-1: –
| Journal |
|||||
| Date | Particulars |
L.F. | Debit ₹ | Credit ₹ | |
| 2018 May 31 | 10% Debenture A/c | Dr. | 6,00,000 | ||
| To Debenture holders A/c | 6,00,000 | ||||
| (Being debentures due ) | |||||
| Debenture Holder A/c | Dr. | 6,00,000 | |||
| To Bank A/c | 6,00,000 | ||||
| (Being payment made to debentures holders) | |||||
| June 30 | Bank A/c | Dr. | 90,000 | ||
| To Debenture Redemption Investment A/c | 90,000 | ||||
| (Being the investment sold) | |||||
| Debenture Redemption Investment A/c | Dr. | 1,50,000 | |||
| To General Reserve A/c | 1,50,000 | ||||
| (Being DRR transferred) | |||||
Note : As per the question all legal requirements have been met which means DRR @ 25% & DRI @ 15% have been created , therefore , these entries have not been passed .
It all about Question 5 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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