[ISC] Q 35 Redemption of Debenture TS Grewal (2023-24)

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Solution of question number 35 of Redemption of Debenture Ts Grewal class 12 ISC Board (2023-24)

On 1st April, 2021, following were the balances of Blue Bird Ltd., an unlisted (Non-NBFC/HFC) Company:

10% Debentures (redeemable out of profits on 30th September, 2022)5,00,000
Securities Premium2,00,000
General Reserve4,00,000
Surplus, i.e., Balance in Statement of Profit & Loss1,00,000

The company met the requirements of the Companies Act, 2013 for Debentures Redemption Reserve and Investment and redeemed the debentures.

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

Solution:-

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

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