The following balances appeared in the books of Paradise Ltd as on 1-4-20X1: (i) 12 %...

 

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The following balances appeared in the books of Paradise Ltd as on 1-4-20X1: (i) 12 % Debentures Rs 7,50,000 (ii) (iii) Balance of DRR Rs 1,00,000 DRR Investment 1,12,500 represented by 10%, 1,125 Secured Bonds of the Government of India of Rs 100 each. Annual contribution to the DRR was made on 31st March every year. On 31-3-20X2, balance at bank was Rs 7,50,000 before receipt of interest. The investment were realised at par for redemption of debentures at a premium of 10% on the above date. You are required to prepare the following accounts for the year ended 31st March, 20X2: (1) Debentures Account (2) DRR Account (3) DRR Investment Account (4) Bank Account (5) Debenture Holders Account. The following balances appeared in the books of Paradise Ltd as on 1-4-20X1: (i) 12 % Debentures Rs 7,50,000 (ii) (iii) Balance of DRR Rs 1,00,000 DRR Investment 1,12,500 represented by 10%, 1,125 Secured Bonds of the Government of India of Rs 100 each. Annual contribution to the DRR was made on 31st March every year. On 31-3-20X2, balance at bank was Rs 7,50,000 before receipt of interest. The investment were realised at par for redemption of debentures at a premium of 10% on the above date. You are required to prepare the following accounts for the year ended 31st March, 20X2: (1) Debentures Account (2) DRR Account (3) DRR Investment Account (4) Bank Account (5) Debenture Holders Account.

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Solution 1 Date 31st March 20X2 2 Date 3 Particulars To Debenture holde... View the full answer