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On 1st April, 2016, following were the b...

On 1st April, 2016, following were the balances of Blue Bird Ltd. :
`{:(10%"Debentures(redeemable on 30th September, 2019)",,"Rs.15,00,000"),("Debentures Redemption Reserve",,"Rs.2,00,000"):}`
The company met the requirements of the Companies Act, 2013 regarding Debentures Redemption Reserve and Investment and redeemed the debentures.
Pass necessary Journal entries for the above transactions in the books of the company.

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The correct Answer is:
Transfer of Profit to DRR - Rs. 1,75,000; - Rs. 2,25,000.
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TS GREWAL-COMPANY ACCOUNTS REDEMPTION OF DEBENTURES-EXERCISE
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  11. On 1st April, 2016, following were the balances of Blue Bird Ltd. : ...

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

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  14. Rich Sugar Ltd. Issued Rs. 20 Lakh, 8% Debentures divided into debentu...

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  15. Hp Ltd. has 1,00,000, 8% Debentures of Rs. 50 each due for redemption ...

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  16. Venus Ltd. had 9,000, 9% Debentures of Rs. 100 each due for redemption...

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  17. Tata Motors Ltd. Issued 40,000, 7% Debentures of Rs. 100 each on 1st j...

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