[ISC] Q 18 Redemption of Debenture TS Grewal (2023-24)

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Solution of question number 18 of Redemption of Debenture Ts Grewal class 12 ISC Board (2023-24)

Uniworld Ltd. had 10,000, 8% Debentures of ₹ 100 each due for redemption at a premium of ₹ 10 each as follows:

On 31st May, 20205,000 Debentures
On 31st May, 20213,000 Debentures
On 31st May, 2022Balance 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 Redemption Investment is made of amount equal to 15% of the nominal of debentures to be redeemed.

Here is the list of all Solutions of Redemption of Debenture of TS Grewal class 12 ISC Board 2023-24.

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54Question – 54
55Question – 55
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