[ISC] Q 38 Redemption of Debenture TS Grewal (2024-25)
Solution of question number 38 of Redemption of Debenture Ts Grewal class 12 ISC Board (2024-25)
On 1st April, 2023 the following balances appeared in the books of Blue & Green Ltd., an unlisted (Non-NBFC/HFC) company;
| 12% Debentures (Redeemable on 31st August, 2024) | 20,00,000 |
| Debentures Redemption Reserve | 1,00,000 |
The company met the requirements of Companies Act, 2013 regarding Debentures Redemption Reserve and Debentures Redemption Investments and redeemed the debentures.
Ignoring interest on investments, pass necessary Journal entries for the above transactions in the books of company.
Solution:-
