मराठी

Madura Ltd. Decided to Redeem Its 10,000, 10% Debentures of ₹100 Each at a Premium of 8%. the Minimum Amount Transferred to Debenture Redemption Reserve Will Be : - Accountancy

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प्रश्न

Choose the appropriate alternative from the given options:
Madura Ltd. decided to redeem its 10,000, 10% debentures of ₹100 each at a premium of 8%. The minimum amount transferred to debenture redemption reserve will be :

पर्याय

  • ₹ 10,00,000

  • ₹ 10,80,000

  • ₹ 2,70,000

  • ₹ 2,50,000

MCQ

उत्तर

The minimum amount to be transferred to Debenture Redemption Reserve will be 25% of the nominal value of debentures as per the Rule 18(7)(c) of the Companies Act, 2013 i.e. ₹ 2,50,000 (₹10,00,000 × 25%).

Hence, the correct answer is ₹ 2,50,000.

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Creation of Debenture Redemption Reserve
  या प्रश्नात किंवा उत्तरात काही त्रुटी आहे का?
2019-2020 (February) Delhi (Set 2)

संबंधित प्रश्‍न

Star Ltd. is a  manufacturer of chemical fertilisers. Its annual turnover is ₹ 50 crores. The company had issued 5,000, 12% Debentures of ₹ 500 each at par. Calculate the amount of Debentures Redemption Reserve which needs to be created to meet the requirements of law.


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India Textiles Corporation Ltd. has outstanding ₹ 50,00,000; 9% Debentures of ₹ 100 each due for redemption on 31st July, 2019. Pass Journal entries for redemption assuming that there is a balance of ₹ 3,00,000 in Debentures Redemption Reserve  on the date of redemption.


Godrej Ltd. has 20,000; 7% Debentures of ₹ 100 each due for redemption on 31st August, 2018. There is a balance of ₹ 3,50,000 in Debentures Redemption Reserve Account as on 31st March, 2016. Investment, as required by the Companies Act, 2013 is made on 1st April, 2017 in fixed deposit bearing interest @ 6% p.a. Bank deducted TDS @ 10% on its maturity which is 31st March, 2018.
Pass Journal entries for redemption of debentures.


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The company met the requirements of the Companies Act, 2013 regarding Debentures Redemption Reserve and Investment and redeemed the debentures.

Pass necessary Journal entries for the above transactions in the books of the company.


On 1st April, 2013 the following balances appeared in the books of Blue and Green Ltd.:
12%Debentures (Redeemable on 31st August, 2015)   
₹ 20,00,000
Debentures Redemption Reserve ₹ 2,00,000.
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.


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The company invested ₹ 3,00,000 in Government securities as required by the Companies Act, 2013.
Pass necessary journal entries for the above transactions.


Choose the appropriate alternative from the given options:
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Fill in the blank.
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31st March, 2019 2,000
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On the basis of the above details, what will be the amount of Debenture Redemption Reserve which the company will transfer to General Reserve on 31st March, 2021?


What is the maximum amount of debentures which an unlisted company, other than a NBFC and HFC, can redeem out of its capital?


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As per the provisions of the Companies Act, 2013, what amount, if any, does the company need to transfer to Debenture Redemption Reserve, before it can redeem the debentures?


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The Debenture Redemption Investment which was purchased on 30th April, 2021, was realised at 98% on the date of redemption and the debentures were redeemed on the due date.

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Tax @ 10% was deducted by the bank on the interest.

You are required to pass necessary journal entries in the year of redemption of debentures, including entries for interest on Debenture Redemption Investment. (Ignore the interest on Debentures)


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You are required to prepare for the year 2023-24:

  1. General Reserve Account.
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