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VDO+ Tag:Question 21 Chapter 10 of Class 12 Part – 2 – 2024
21. (Redeemable by Drawing a lots) A listed company has on 1-4-16 Rs. 4,00,000 10% Debentures of 100 each. These are redeemable by drawing of lots at 5% premium.
At the time of issue of these debenture, premium was not credited.
On 30-6-16 appeared company redeemed 700 debentures at premium. The following balances.
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Video Tag:| Securities Premium | ₹ 6,000 |
| Reserve Profit & Loss | ₹ 2,50,000 |
| Bank Balance | ₹ 60,000 |
Bank loan to the extent necessary for redemption was taken by the company.
Pass necessary journal entries Ignore interest on debentures.
The solution of Question 21 Chapter 10 of Class 12 Part – 2 – 2024:-
We are providing a solution of Question 21 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 19 to 21 Chapter no. 10 class 12 of Usha publication. To check the direct solution of question no. 21 from the following video by using time stamps of the video.
2. Check out the Solution of Question 21 Chapter 10 of Class 12 Part – 2 – 2024 in Article Format:-
| Journal |
|||||
| Date | Particulars |
L.F. | Debit ₹ | Credit ₹ | |
| 30-4-14 | Debenture Redemption Investment A/c | Dr. | 10,500 | ||
| To Bank A/c | 10,500 | ||||
| (15% of 70,00 invested in debentures redeemable investment) | |||||
| 30-6-14 | 10% Debenture A/c | Dr. | 70,000 | ||
| Premium on Redemption A/c | Dr. | 3,500 | |||
| To Debentures holders A/c | 73,500 | ||||
| (Being amount due o 100 debentures) | |||||
| Securities Premium A/c | Dr. | 3,500 | |||
| To Premium Redemption Reserve A/c | 3,500 | ||||
| (Being premium on redemption created out of securities premium) | |||||
| Surplus in Statement of Profit & loss | Dr. | 1,00,000 | |||
| To Debenture Redemption Reserve A/c | 1,00,000 | ||||
| (Being 25% amount of 4,00,000 debentures created as DRR) | |||||
| Bank A/c | Dr. | 13,500 | |||
| To Bank Loan A/c | 13,500 | ||||
| (Being bank loan 73500-60000=13500 taken) | |||||
| Debentures Holders A/c | Dr. | 73,500 | |||
| To Bank A/c | 73,500 | ||||
| (Being amount paid to debentures holders) | |||||
Note: Premium on Redemption was not credited at the time of issue of debentures ,therefore, the same is created out or securities premium.
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Check Out the Solution of all questions of this chapter:
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.
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Question 12 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.
1. Accountancy – Part 1 Class 12 – Session 2024-25 By Usha Publication
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2. Advanced Accountancy Part 1 Class 12 by Unimax Publication