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  3. 12th Class
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12th Class Accountancy Sample Paper Accountancy - Sample Paper-14

  • question_answer
    Arihant Ltd has 60,000 , 12% debentures of Rs. 100 each outstanding as on 31st March, 2017. These debentures are due for redemption on 31st March, 2018. Debenture redemption reserve has a balance of Rs. 7,50,000 on 31st March, 2017. Pass journal entries at the time of redemption of debentures.

    Answer:

    Transfer to general reserve = Rs. 15,00,000


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