[ISC] Q 17 Redemption of Debenture TS Grewal (2024-25)
Solution of question number 17of Redemption of Debenture Ts Grewal class 12 ISC Board (2024-25)
Uniworld Ltd. had 10,000, 8% Debentures of ₹ 100 each due for redemption at a premium of ₹ 10 each as follows:
| On 31st May, 2021 | 5,000 Debentures |
| On 31st May, 2022 | 3,000 Debentures |
| On 31st May, 2023 | Balance Debentures |
Pass the Journal entries for investment in specified securities for the above. Investment is made on 1st April.
Solution:-
Hint:-
Investments are realised to the extent that balance in Debentures
Redemption Investment is equal to 15% of the debentures to redeemed in the next year. Debentures
