[ISC] Q 45 Redemption of Debenture TS Grewal (2024-25)
Solution of question number 45 of Redemption of Debenture Ts Grewal class 12 ISC Board (2024-25)
Hemco Ltd. an unlisted (Non-NBFC (HFC) company issued 10,000; 10% Debentures of ₹ 100 each at par on 1st April, 2019 redeemable at 5% premium in three yearly instalments by draw of lots as follows:
| On 1st March, 2022 | 1,000 Debentures |
| On 1st August, 2022 | 2,000 Debentures |
| On 1st March, 2023 | 3,000 Debentures |
The company complied with the legal requirement with respect to DRR and investment (made in Government Securities on 1st April).
Pass Journal entries for Issue and Redemption of debentures.
Solution:-
