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VDO+ Tag:Question 13 Chapter 10 of Class 12 Part – 2 – 2024
13. On 31st March, 2019, Tata Company Ltd., an unlisted Co., has 5,00,000 in 13% Debentures on which interest is outstanding for the year 2018-19 and it is paid now. There was a balance of 30,000 in debenture redemption reserve and ! 6,000 in discount on debentures account.
On this date it was decided to redeem all the debentures and write off debenture discount. There was sufficient profit in Profit and Loss. Journalise the above. Ignore Debenture Redemption investment.
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Video Tag:The solution of Question 13 Chapter 10 of Class 12 Part – 2 – 2024:-
We are providing a solution of Question 13 Chapter 10 of Class 12 Part – 2 Usha Publication in two formats. one is in Video format and another is in article format. Check out both formats as follows:
1. Check out the Solution of this question in Video Format:-
The video consists solution of question numbers from 11 to 15 Chapter no. 10 class 12 of Usha publication. To check the direct solution of question no. 13 from the following video by using time stamps of the video.
2. Check out the Solution of Question 13 Chapter 10 of Class 12 Part – 2 – 2024 in Article Format:-
In the Books of Tata Company Ltd.
Journal
| Date | Particulars |
L.F. | Debit | Credit | |
| 31/3/19 | Statement of Profit & Loss A/c | Dr. | 20,000 | ||
| To Debenture Redemption Reserve A/c | 20,000 | ||||
| (Being DRR @ 10% created) | |||||
| Interest on Debentures A/c | Dr. | 65,000 | |||
| To Debentureholders’ A/c | 58,500 | ||||
| To Income Tax Payable A/c | 6,500 | ||||
| (Being Interest on Debenture due) | |||||
| Debentureholders A/c | Dr. | 58,500 | |||
| Income Tax Payable A/c | Dr. | 6,500 | |||
| To Bank A/c | 65,000 | ||||
| (Being interest on debentures & income tax paid) | |||||
| 13% Debentures A/c | Dr. | 5,00,000 | |||
| To Debentureholders A/c | 5,00,000 | ||||
| (Being amount due to debentureholders due to redemption of debentures) | |||||
| Debentureholders A/c | Dr. | 5,00,000 | |||
| To Bank A/c | 5,00,000 | ||||
| (Being debentureholders’ paid off) | |||||
| Statement of Profit & Loss A/c | Dr. | 71,000 | |||
| To discount on Debenture A/c | 65,000 | ||||
| To interest on Debentures A/c | 6,000 | ||||
| (Being discount & Interest on Debenture written off) | |||||
| Debenture Redemption Reserve A/c | Dr. | 50,000 | |||
| To General Reserve A/c | 50,000 | ||||
| (Being DRR transferred to General Reserve A/c) | |||||
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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)
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 – Ratio Analysis
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