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प्रश्न
Ronny Ltd. (an unlisted construction company) redeems its 7,000, 10% Debentures of ₹ 100 each at a premium of 5% in instalments, as follows:
| Date of Redemption | Debentures to be redeemed |
| 31st March, 2022 | 2,000 |
| 31st March, 2023 | 3,000 |
| 31st March, 2024 | 2,000 |
You are required to prepare for the year 2023-24:
- General Reserve Account.
- Debenture holders’ Account. (Ignore interest on Debentures).
उत्तर
| General Reserve A/c | |||||
| Date | Particulars | Amount (₹) | Date | Particulars | Amount (₹) |
| 31.03.24 | To Balance c/d | 70,000 | 01.04.23 | By Balance b/d | 50,000 |
| 31.03.24 | By DRR | 20,000 | |||
| 70,000 | 70,000 | ||||
| Debenture holders’ A/c | |||||
| Date | Particulars | Amount (₹) | Date | Particulars | Amount (₹) |
| 31.03.24 | To Bank A/c | 2,20,000 | 31.03.24 | By 10% Debentures A/c | 2,00,000 |
| 01.04.24 | By Premium on Redemption of Debentures A/c | 20,000 | |||
| 2,20,000 | 2,20,000 | ||||
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संबंधित प्रश्न
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Debentures Redemption Reserve of Rs 4,14,000. Pass necessary journal entries at the time of redemption.
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Apollo Ltd.issued 21,000; 8% Debentures of ₹ 100 each on 1st April, 2013 redeemable at a premium of 8% on 30th June, 2019. The company decided to transfer the required amount to Debentures Redemption Reserve in three equal annual instalments starting with 31st March, 2017. Required investment was made in Government Securities on 30th April, 2019. Ignore interest on debentures and also investment.
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Ignoring interest on fixed deposit ,pass necessary journal entries starting from 31st March, 2015 regarding redemption of debentures .
Venus Ltd. had 9,000, 9% Debentures of ₹ 100 each due for redemption . These debentures are to be redeemed in 3 equal installments (starting from 31st March,2015) at a premium of 10%. The company had a balance of ₹ 25,000 in the Debentures Redemption Reserve .
Pass necessary entries for redemption of debentures assuming that company transfer the balance of DRR to General Reserve after redeeming all the debentures.
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 :
On 1st April 2015, Mayfair Ltd. issued 4,000 9% debentures of ₹ 100 each at a discount of 5% redeemable at a premium of 8%. The debentures were redeemable on 31st March 2019. The company created the necessary minimum amount of debenture redemption reserve and purchased the required amount of debenture redemption investments as per the provisions of Companies Act, 2013.
Pass the necessary journal entries for the redemption of debentures.
What is the maximum amount of debentures which an unlisted company, other than a NBFC and HFC, can redeem out of its capital?
Jerome Ltd., an unlisted manufacturing company, had 20,000, 6% Debentures of ₹ 100 each due for redemption at par on 31st March, 2022. On this date the company had the required amount of ₹ 2,00,000 in its Debenture Redemption Reserve.
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.
You are required to pass journal entries in the books of the company for the year 2021-22. (Ignore interest on debentures).
