Apollo Ltd., an unlisted (Non-NBFC/HFC) company, issued 21,000 8% Debentures of ₹ 100 each on 1st April, 2014 redeemable at a premium of 8% on 30th June,2021
Apollo Ltd., an unlisted (Non-NBFC/HFC) company, issued 21,000 8% Debentures of ₹ 100 each on 1st April, 2014 redeemable at a premium of 8% on 30th June,2021. The company decided to transfer the required amount to Debentures Redemption Reserve in three equal annual instalments starting on March, 2019. Required investment was made in Government Securities on 30th April, 2021. Ignore Interest on debentures and also investment.
Pass necessary Journal entries regarding issue, transfer to DRR, investment, and redemption of debentures.
Anurag Pathak Changed status to publish November 4, 2023
