1.

Godrej Ltd. has 20,000; 7% Debentures of ₹ 100 each due for redemption on 31st August, 2017. There is a balance of ₹ 3,50,000 in Debentures Redemption Reserve Account as on 31st March,2015. Investment, as required by the Companies Act, 2013 is made on 1st April, 2016 in fixed deposit bearing interest @ 6 % p.a. Bank deducted TDS @ 10 % on its maturity which is 31st March, 2017. Pass journal entries for redemption of debentures.

Answer»

Godrej Ltd. has 20,000; 7% Debentures of ₹ 100 each due for REDEMPTION on 31st August, 2017. There is a balance of ₹ 3,50,000 in Debentures Redemption Reserve Account as on 31st March,2015. Investment, as required by the Companies ACT, 2013 is made on 1st April, 2016 in fixed deposit BEARING INTEREST @ 6 % p.a. Bank deducted TDS @ 10 % on its maturity which is 31st March, 2017.Pass journal entries for redemption of debentures. I will be there at your question my number is 9752572916



Discussion

No Comment Found

Related InterviewSolutions