3. Profit on Redemption A/c Dr. 4000 To Capital Reserve A/c 4000 6. 1 mark for balance sheet and 2 marks for note 1. Bank A/c Dr. 4,00,000 To Bank Loan A/c 4,00,000 2. 5,00,000 Debenture Suspense A/c Dr. 5,00,000 To 9% Debenture A/c Balance Sheet Liabilities Amt. Amt. Non Current Liabilities 1 4,00,000 4,00,000 Note 1 Bank loan 4,00,000 (Deb. of Rs.5,00,000 issued as collateral security) 7. 1 mark for each entry 1. 9% Debenture A/c Dr. 10,00,000 To Debenture holder A/c 10,00,000 2 5,86,000 Statement of P/L A/C Dr.. To DRR A/C 5,86,000 3. Debenture Redemption Investment A/C Dr. 1,50,000 T0 Bank A/c 1,50,000 (being 15% Investment made as per provision) 4 Bank A/c Dr. 1,50,000 To Debenture Redemption Investment A/C 1,50,000 (being 15% Investment sold) 5 Debenture holder A/c Dr. 10,00,000 To Bank A/c 10,00,000
3. Profit on Redemption A/c Dr. To Capital Reserve A/c 4000 4000 6. 1 mark for balance sheet and 2 marks for note 1. 2. Bank A/c Dr. To Bank Loan A/c Debenture Suspense A/c Dr. To 9% Debenture A/c 4,00,000 5,00,000 4,00,000 5,00,000 Balance Sheet Liabilities Amt. Amt. Non Current Liabilities 1 4,00,000 4,00,000 Note 1 Bank loan 4,00,000 (Deb. of Rs.5,00,000 issued as collateral security) 7. 1 mark for each entry 1. 2 3. 4 5 9% Debenture A/c Dr. To Debenture holder A/c Statement of P/L A/C Dr.. To DRR A/C Debenture Redemption Investment A/C Dr. T0 Bank A/c (being 15% Investment made as per provision) Bank A/c Dr. To Debenture Redemption Investment A/C (being 15% Investment sold) Debenture holder A/c Dr. To Bank A/c 10,00,000 5,86,000 1,50,000 1,50,000 10,00,000 10,00,000 5,86,000 1,50,000 1,50,000 10,00,000