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VDO+ Tag:Question 18 Chapter 10 of Class 12 Part – 2 – 2024
18. (Redemption in Installments) An unlisted company issued 12,000 10%. Debentures of Rs. 100 each at Rs. 98 on 1 April 2012. These are redeemable in four annual installments commencing from. 31 March, 2015. DRR was created by the company On 31st March, 2013 Rs. 50,000 and on 31 March, 2014 Rs. 50,000. The balance required as per law was created on 31 March, 2015, Journalise the transactions for the year 2012-13 to 2016-17.
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Video Tag:The solution of Question 18 Chapter 10 of Class 12 Part – 2 – 2024:-
We are providing a solution of Question 18 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 questions numbers from 16 to 18 Chapter no. 10 class 12 of Usha publication. To check the direct solution of question no. 18 from the following video by using time stamps of the video.
2. Check out the Solution of Question 18 Chapter 10 of Class 12 Part – 2 – 2024 in Article Format:-
| Journal |
|||||
| Date | Particulars |
L.F. | Debit ₹ | Credit ₹ | |
| 1-4-12 | Bank A/c (12000 X 98) | Dr. | 11,76,000 | ||
| To 10% Debenture Application & Allotment A/c | 11,76,000 | ||||
| (Being app. Received for 12,000 debentures @ ₹ 98 each) | |||||
| Debenture Application & Allotment A/c | Dr. | 11,76,000 | |||
| Discount on Debenture A/c | Dr. | 24,000 | |||
| To 10 % Debenture A/c | 12,00,000 | ||||
| (Being app. Money adjusted ) | |||||
| 31-3-13 | Surplus in Statement of Profit & loss | Dr. | 50,000 | ||
| To Debenture Redemption Reserve A/c | 50,000 | ||||
| (Being DRR created to redeem debentures) | |||||
| 31-3-14 | Surplus in Statement of Profit & loss | Dr. | 1,50,000 | ||
| To Debenture Redemption Reserve A/c | 1,50,000 | ||||
| (Being DRR created to redeem debentures) | |||||
| 30-4-14 | Debenture Redemption Investment A/c | Dr. | 45,000 | ||
| To Bank A/c | 45,000 | ||||
| (Being investment made equal to @ 15% of nominal value of debentures to be redeemed on Or before April 30) | |||||
| 31-3-15 | Surplus in Statement of Profit & loss (WN) | Dr. | 1,00,000 | ||
| To Debenture Redemption Reserve A/c | 1,00,000 | ||||
| (Being DRR created to 25% of debentures to be redeemed) | |||||
| 31-3-15 | 10 % Debenture A/c | Dr. | 3,00,000 | ||
| To Bank A/c | 3,00,000 | ||||
| (Being ¼ debentures redeemed) | |||||
| 31-3-16 | 10 % Debenture A/c | Dr. | 3,00,000 | ||
| To Bank A/c | 3,00,000 | ||||
| (Being ¼ debentures redeemed) | |||||
| 31-3-17 | 10 % Debenture A/c | Dr. | 3,00,000 | ||
| To Bank A/c | 3,00,000 | ||||
| (Being ¼ debentures redeemed ) | |||||
Working Note:
| 25% of 10,00,000 | 3,00,000 |
| DRR already created (50,000+1,50,000) | 2,00,000 |
| Remaining DRR Reg. | 1,00,000 |
Note: Discount on debentures will be written off in the ratio of outstanding debentures . For which following entry will be passed each year from 2012-2017
| Date | Particulars |
L.F. | Debit ₹ | Credit ₹ | |
| Statement of profit & loss | Dr. | ||||
| To Discount on Debenture A/c | |||||
Note: 2016-17 i.e, last years entries have not been yet asked in the question . Hence debentures worth Rs. 3,00,000 have not been shown as redeemed . Also no transfer is made of DRR to General Reserve because that is done by only after complete redemption. Also investment will be realised in the last year
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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 11 Chapter 11 of Class 12 Part – 2 – 2024
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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.
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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