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Nirbhai Chemicals Ltd. Issued RS. 10,00,...

Nirbhai Chemicals Ltd. Issued RS. 10,00,000 , `6%` Debentures of Rs. 50 each at a premium of `8%` on 30th june, 2018 redeemable on 30th June, 2019. The issue was fully subcribed. Pass Journal entries for issue and redemption of debentures. How much amount should be transferred. to Debentures Redemption Reserve before redemption of debentures ? Also, state how much amount should be invested in specified securities ?

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Verified by Experts

The correct Answer is:
Debentures Redemption Reserve - Rs. 2,50,000; Investment in specified securities - Rs. 1,50,000.
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TS GREWAL-COMPANY ACCOUNTS REDEMPTION OF DEBENTURES-EXERCISE
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  14. On 1st April, 2016, following were the balances of Blue Bird Ltd. : ...

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  16. On 1st April, 2013 the following balances appeared in books of Blue an...

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