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प्रश्न
On 1st April, 2021, the following balances appeared in the books of Blue and Green Ltd. (an unlisted company):
| 12% Debentures (Redeemable on 31st August, 2023) | ₹ 20,00,000 |
| Debenture Redemption Reserve | ₹ 50,000 |
The company met the requirements of Companies Act, 2013 regarding Debenture Redemption Reserve and Debenture Redemption investments and redeemed the debentures.
Ignoring interest on investments, pass necessary Journal entries for the above transactions in the books of company.
रोजकीर्द नोंद
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उत्तर
| Journal entries of Blue and Green Ltd. | ||||
| Date | Particulars | L.F. | Debit (₹) | Credit (₹) |
| 2023 | ||||
| Mar. 31 | Statement of Profit & Loss A/C ...Dr. | 1,50,000 | - | |
| To Debenture redemption reserve A/c | - | 1,50,000 | ||
| (Being the additional amount transferred to Debenture Redemption Reserve) | ||||
| Apr. 30 | Debenture redemption investment A/c ...Dr. | 3,00,000 | - | |
| To Bank A/c (20,00,000 × 15%) | - | 3,00,000 | ||
| (Being 15% of the face value of debentures invested in specified securities) | ||||
| Aug. 31 | 12% Debenture A/c ...Dr. | 20,00,000 | - | |
| To Bank A/c | - | 20,00,000 | ||
| (Being the debentures redeemed at par) | ||||
| Aug. 31 | Bank A/c ...Dr. | 3,00,000 | - | |
| To Debenture redemption investment A/c | - | 3,00,000 | ||
| (Being the Debenture Redemption Investment sold) | | ||||
| Aug. 31 | Debenture redemption reserve A/c ...Dr. | 2,00,000 | - | |
| To General reserve A/c | - | 2,00,000 | ||
| (DRR transferred to general reserve) | ||||
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