On 1st April, 2021, following were the balances of Blue Bird Ltd., an unlisted (Non-NBFC/HFC) Company:
10% Debentures (redeemable out of profits on 30th September, 2022) 5,00,000
Securities Premium 2,00,000
General Reserve 4,00,000
Surplus, i.e., Balance in Statement of Profit & Loss 1,00,000
The company met the requirements of the Companies Act, 2013 for Debentures Redemption Reserve and Investment and redeemed the debentures. Pass necessary Journal entries for the above transactions in the books of the company.
Anurag Pathak Changed status to publish November 4, 2023