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प्रश्न
On 31st March, 2021, the books of Pragya Ltd. (an unlisted manufacturing company) showed the following closing balances:
| 7% Debentures (redeemable on 30th September, 2022) | ₹ 60,00,000 |
| Debenture Redemption Reserve | ₹ 2,00,000 |
In order to meet the provisions of the Companies Act, 2013, the company transferred the required balance amount to Debenture Redemption Reserve Account on 31st March, 2022. It met the requirements of Debenture Redemption Investment.
You are required to prepare the Debenture Redemption Reserve Account for the years 2021-22, 2022-23.
खातेवही
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उत्तर
| Dr. | Debenture Redemption Reserve Account | Cr. | |||
| Date | Particulars | Amount (₹) | Date | Particulars | Amount (₹) |
| 2021-2022 | 2021-2022 | ||||
| Mar 31 | By Balance b/d | 2,00,000 | |||
| Mar 31 | To Balance c/d | 6,00,000 | Mar 31 | By Profit & Loss A/c | 4,00,000 |
| 6,00,000 | 6,00,000 | ||||
| 2022-2023 | 2022-2023 | ||||
| Apr 1 | To General Reserve | 6,00,000 | Sep 30 | By Balance b/d | 6,00,000 |
| 6,00,000 | 6,00,000 | ||||
Working Notes:
- Total 7% Debentures = ₹ 60,00,000
- DRR Requirement for Unlisted Company (Manufacturing) = 10% of face value (as per Companies Act, 2013)
10% of ₹ 60,00,000 = ₹ 6,00,000 - Existing DRR balance = ₹ 2,00,000
- Additional transfer needed on 31st March 2022: ₹ 6,00,000 − ₹ 2,00,000 = ₹ 4,00,000
- DRR to be transferred to General Reserve after redemption (on 30th September 2022) = ₹ 6,00,000
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