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LoginOn 1-1-2010 a Public Limited Company issued 15,000, 10% Debentures of Rs.100 each at par which were repayable at a Premium of 15% on 31-3-2015. On the date of maturity, the company decided to redeem the above mentioned 10% Debentures as per the terms of issue, out of profits. Required investment is made on 30th April, 2014 in fixed deposit bearing interest @8% p.a. Bank deducted TDS @10% on its maturity i.e. 31st March 2015.
Pass the necessary journal entries in the books of the Company for the redemption of Debentures.
Class 12 Accounts in Class 12 3 years ago
Posted on 04 Dec 2021, this text provides information on Class 12 related to Accounts in Class 12. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.
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