[ISC] Q 28 Redemption of Debenture TS Grewal (2023-24)

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Solution of question number 28 of Redemption of Debenture Ts Grewal class 12 ISC Board (2023-24)

On 31st March, 2022, W Ltd., an unlisted company, not being a NBFC or HFC, had the following balances in its books:

9% Debentures6,00,000
Debenture Redemption Reserve30,000
Surplus, i.e., Balance in Statement of Profit & Loss3,00,000

On that date, the company transferred ₹ 30,000 to Debentures Redemption Reserve. It redeemed debentures of ₹ 3,00,000 on 30th June, 2022.

Pass necessary Journal entries in the books of the company for the above.

Solution:-

Note:- Amount proportionate to 50% Debentures redeemed transferred. Alternatively, DRR may be transferred to General Reserve when all the debentures have been 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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1Question – 1
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50Question – 50
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51Question – 51
52Question – 52
53Question – 53
54Question – 54
55Question – 55
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