[ISC] Q 55 Redemption of Debenture TS Grewal (2023-24)

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Solution of question number 55 of Redemption of Debenture Ts Grewal class 12 ISC Board (2023-24)

On 1st April, 2021, Star Ltd., an unlisted company (other than NBFC or HFC), had outstanding 10,000, 12% Debentures of ₹ 100 each. The company purchased 2,000 debentures @ ₹ 98 each on 1st October, 2021 as investment. Debenture interest is payable on 30th September and 31st March. The company cancelled all the debentures (purchased on 1st October, 2021) on 31st March, 2022, the date of year ending.

Pass the necessary Journal entries 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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