1.

On 31st March, 2016, W Ltd. had the following balances in its books: 9% Debentures – ₹ 6,00,000 Debentures Redemption Reserve – ₹ 50,000 Surplus, i.e. Balance in Statement of Profit and Loss – ₹ 3,00,000 On that date, the company decided to transfer ₹ 1,00,000 to Debentures Redemption Reserve. It also decided to redeem debentures of ₹ 3,00,000 on 30th June, 2016. Pass necessary journal entries in the books of the company.

Answer»

On 31st MARCH, 2016, W Ltd. had the following BALANCES in its books:9% Debentures – ₹ 6,00,000Debentures REDEMPTION Reserve – ₹ 50,000Surplus, i.e. Balance in Statement of Profit and Loss – ₹ 3,00,000On that date, the company decided to transfer ₹ 1,00,000 to Debentures Redemption Reserve. It also decided to redeem debentures of ₹ 3,00,000 on 30th JUNE, 2016.Pass necessary journal entries in the books of the company. I will be there at your question my number is 9763233578



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