Question 9 Chapter 10 of +2-Part-1 - USHA Publication 12 Class Part

Question 9 Chapter 10 of +2-Part-1

9. (Redemption in Lumpsum Balance of DRR/ Profit and Loss given/discount on Debenture) The following balances exist in the books of a listed limited company as on1-4-17:

12% Debentures	₹ 4,00,000
Debenture Redemption Reserve	₹ 20,000
Profit & Loss balance	₹ 1,50,000
Discount on Debentures	₹ 15,000
Cash at bank	₹ 5,60,000
Interest is payable on 31-3-2018

It was decided to redeem all debentures on 31-3-2018. TDS rate is 10% for interest.
Pass journal entries.

The solution of Question 9 Chapter 10 of +2 Part-1: –

Solution of Questions 06 to 10 Redemption of Debentures Chapter 10 Accounts class 12 PSEB Day 204

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Y Ltd. Journal
Date	Particulars		L.F.	Debit ₹	Credit ₹
30-4-16	Debenture Redemption Investment A/c	Dr.		60,000
	To Bank A/c				60,000
	(Being the 15 % investment made)

31-3-18	Interest on Debenture A/c	Dr.		48,000
	To Bank A/c				43,200
	To Income Tax Payable A/c				4,800
	(Being annual interest paid after tax @ 10%)

31-3-18	Surplus in Statement of Profit & loss	Dr.		80,000
	To Debenture Redemption Investment A/c				80,000
	(Being DRR created 25% of 4,00,000- 20,000)

31-3-18	Bank A/c	Dr.		60,000
	To Debenture holders A/c				60,000
	(Being investment encashed)

31-3-18	Statement of Profit & loss	Dr.		63,000
	To discount on Debenture A/c				15,000
	To interest on Debentures A/c				48,000
	(Being debentures holders paid off )

31-3-18	12 % Debenture A/c	Dr.		4,00,000
	To Bank A/c				4,00,000
	(Being debentures redeemed)

31-3-18	Debenture Redemption Investment A/c	Dr.		1,00,000
	To General Reserve A/c				1,00,000
	(Being DRR transferred )

It all about Question 9 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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Question 1 Chapter 10 of +2-Part-1 – USHA Publication 12 Class Part – 1

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

Question 3 Chapter 10 of +2-Part-1 – USHA Publication 12 Class Part – 1

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Question 4 Chapter 10 of +2-Part-1 – USHA Publication 12 Class Part – 1

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Question 8 Chapter 10 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 9 Chapter 10 of +2-Part-1 – USHA Publication 12 Class Part – 1

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

Question 11 Chapter 10 of +2-Part-1 – USHA Publication 12 Class Part – 1

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

Question 13 Chapter 10 of +2-Part-1 – USHA Publication 12 Class Part – 1

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Question 14 Chapter 10 of +2-Part-1 – USHA Publication 12 Class Part – 1

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Question 17 Chapter 10 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 18 Chapter 10 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 19 Chapter 10 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 20 Chapter 10 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 21 Chapter 10 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 22 Chapter 10 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 23 Chapter 10 of +2-Part-1 – USHA Publication 12 Class Part – 1

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Question 24 Chapter 10 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 25 Chapter 10 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 26 Chapter 10 of +2-Part-1 – USHA Publication 12 Class Part – 1

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Question 27 Chapter 10 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 28 Chapter 10 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 29 Chapter 10 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 30 Chapter 10 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 32 Chapter 10 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 33 Chapter 10 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 34 Chapter 10 of +2-Part-1 – USHA Publication 12 Class Part – 1

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Question 35 Chapter 10 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 36 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)

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

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The solution of Question 9 Chapter 10 of +2 Part-1: –

Check Out the Solution of all questions of this chapter:

Download a PDF of Chapter No. 10 – Company Accounts (Redemption of Debentures):

Chapter-Wise Solution of Usha Publication Accountancy – Part 2 Class 12 – Session 2024-25 as per the PSEB curriculum

Also, Check out our Comprehensive Chapter-wise solution of Advanced Accountancy Part 2 Class 12 by Unimax Publication

Check out Part 1 of both books.

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