Question

16. On October 1, 2012 Pragati Ltd. issued 35,00,000, 9% debentures of 100 each which are
due for redemption in two equal annual instalments starting from 31.3.2019. The Board of
Directors decided to transfer out of profits * 50,00,000 and 4,00,00,000 on 31st March,
2016 and 2017 respectively and balance required on 31st March, 2018.
Record necessary Journal entries. Ignore entries for payment of interest. Investment as
required by the Companies Rules, 2014 was made in Government Securities.
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Answer 1

Answer:

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