On 31st March, 2021, the books of Pragya Ltd. (an unlisted manufacturing company) showed the following closing balances: 7% Debentures (redeemable on 30th September, 2022) ₹ 60,00,000 Debenture Redemption Reserve ₹ 2,00,000 In order to meet the provisions of the Companies Act, 2013, the company transferred the required balance amount to Debenture Redemption Reserve Account on 31st March, 2022. It met the requirements of Debenture Redemption Investment.
You are required to prepare the Debenture Redemption Reserve Account for the years 2021-22, 2022-23.
OR
Barua Ltd. (a listed NBFC) redeems its 9,000, 10% Debentures of ₹ 100 each in instalments as follows You are required to prepare the Debenture Redemption Investment Account for the years 2020-21, 2021-22.
,