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VDO+ Tag:Question 20 Chapter 10 of Class 12 Part – 2 – 2024
20. (Redemption by drawing of lots) Kalyani Publishers, a listed co., issued 7,000 12% Debentures of RS. 100 each at 5% discount on 1 April 2014, which are redeemable at par. The company has been empowered by its Articles of Association to redeem Rs. 2,00,000 debentures annually by drawing a lot from 1 April 2016. Discount on debentures was written off as per AS-16. Interest is payable on 31 March and 30th September.
Journalise the above transaction for the year 2014-15 to 2016-17
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Video Tag:The solution of Question 20 Chapter 10 of Class 12 Part – 2 – 2024:-
We are providing a solution of Question 20 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 6 to 10 Chapter no. 10 class 12 of Usha publication. To check the direct solution of question no. 20 from the following video by using time stamps of the video.
2. Check out the Solution of Question 20 Chapter 10 of Class 12 Part – 2 – 2024 in Article Format:-
| Kalyani Publishers Journal |
|||||
| Date | Particulars |
L.F. | Debit ₹ | Credit ₹ | |
| 1-4-14 | Bank A/c (7000 X 95) | Dr. | 6,65,000 | ||
| To 10% Debenture Application & Allotment A/c | 6,65,000 | ||||
| (Being app. Received for 7,000 debentures @ Rs. 95 each) | |||||
| Debenture Application & Allotment A/c | Dr. | 6,65,000 | |||
| Discount on Debenture A/c | Dr. | 35,000 | |||
| To 12 % Debenture A/c | 7,00,000 | ||||
| (Being app. Money adjusted ) | |||||
| 30-9-14 | Interest on debentures A/c | Dr. | 42,000 | ||
| To Bank A/c | 42,000 | ||||
| (Being half years interest paid on debentures ) | |||||
| 31-3-15 | Interest on debentures A/c | Dr. | 42,000 | ||
| To Bank A/c | 42,000 | ||||
| (Being half years interest paid on debentures ) | |||||
| 31-3-15 | Statement of profit & Loss | Dr. | 91,000 | ||
| To Interest on debentures A/c | 84,000 | ||||
| To Discount on Debenture A/c | 7,000 | ||||
| (Being expenses / losses written off) | |||||
| 30-9-15 | Interest on debentures A/c | Dr. | 42,000 | ||
| To Bank A/c | 42,000 | ||||
| (Being half years interest paid on debentures ) | |||||
| 31-3-16 | Interest on debentures A/c | Dr. | 42,000 | ||
| To Bank A/c | 42,000 | ||||
| (Being half years interest paid on debentures ) | |||||
| 31-3-16 | Statement of profit & Loss | Dr. | 91,000 | ||
| To Interest on debentures A/c | 84,000 | ||||
| To Discount on Debenture A/c | 7,000 | ||||
| (Being expenses / losses written off) | |||||
| 30-4-16 | Debenture Redemption Investment A/c | Dr. | 30,000 | ||
| To Bank A/c | 30,000 | ||||
| (Being investment made @ 15% of 2,00,000) | |||||
| 1-4-16 | Surplus in Statement of Profit & loss | Dr. | 1,75,000 | ||
| To Debenture Redemption Reserve A/c | 1,75,000 | ||||
| (Being 25% amount of debentures to be redeemed transferred to DRR) | |||||
| 1-4-16 | 12% Debenture A/c | Dr. | 2,00,000 | ||
| To Bank A/c | 2,00,000 | ||||
| (Being debentures redeemed) | |||||
| 30-9-16 | Interest on debentures A/c | Dr. | 30,000 | ||
| To Bank A/c | 30,000 | ||||
| (Being half years interest paid on debentures ) | |||||
| 31-3-17 | Interest on debentures A/c | Dr. | 30,000 | ||
| To Bank A/c | 30,000 | ||||
| (Being half years interest paid on debentures ) | |||||
| 31-3-17 | Statement of profit & Loss | Dr. | 67,000 | ||
| To Interest on debentures A/c | 60,000 | ||||
| To Discount on Debenture A/c | 7,000 | ||||
| (Being expenses / losses written off) | |||||
Note: 1. DRI is transferred to General Reserve after the redemption of all debentures.
2. Investment are not realised as they are needed in next year redemption as well.
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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