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As on 01
As on 01.04.2020, SHIM Ltd. had outstanding 12% debentures of 7 15,00,000 and sufficient balance in the credit of the Profit & Loss A/c.
Out of the existing company funds, the company redeemed all its debentures in 3 equal annual instalments starting from 31.03.2020 to 31.03.2022. The debentures are redeemed at a premium of 10%.
Show the journal entries in the books of SHIM Ltd. for the year 2019-20; 2020-2
2021-22 according to Companies Act, 2013.
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