[ISC] Q 38 Redemption of Debenture TS Grewal (2023-24)

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Solution of question number 38 of Redemption of Debenture Ts Grewal class 12 ISC Board (2023-24)

Rich Proteins Ltd., an unlisted (Non-NBFC/HFC) company, issued ₹ 20,00,000, 8% Debentures divided into debentures of ₹ 100 each on 1st April, 2015, redeemable in four equal annual instalments starting from 31st March, 2023. The company decided to transfer ₹ 1,00,000 to Debentures Redemption Reserve each year on 31st March, 2021 and 2022.

The company invested in Government securities as required by the Companies Act, 2013 on 1st April, 2022 to be realised on last redemption.

Pass necessary Journal entries for the above transactions.

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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