[ISC] Q 27, 28 Redemption of Debenture TS Grewal (2026-27)
Solution of question number 27 and 28 of Redemption of Debenture Ts Grewal class 12 ISC Board (2026-27)
Q. 27. Ananya Ltd.’ an unlisted manufacturing company, had 50,000, 8% Debentures of 100 each due for
redemption at a premium of 5% on 31 st March, 2026. On this date, the company had the required amount in its Debenture Redemption Reserve.
The Debenture Redemption Investment which was purchased on 30th April, 2025, was realised at 98% on
the date of redemption and the debentures were redeemed on the due date.
You are required to pass Journal entries in the books of the company for the year 2025–26 (Ignore Interest on Debentures).
Solution:
Q. 28. Mahima Ltd., an unlisted (Non-NBFC/HFC) company, issued ₹ 38,00,000, 9% Debentures of ₹ 100 each on 1st April, 2019. The debentures were redeemable at a premium of 5% on 30th June, 2022. The company transferred an amount of ₹ 3,80,000 to Debentures Redemption Reserve on 31st March, 2022. Investments as required by law were made in fixed deposit of a bank on 1st April, 2022.
Ignoring interest on fixed deposit, pass necessary Journal entires starting from 31st March, 2022 regarding redemption of debentures.
Solution:-
