[CBSE] Q. 6 Issue of Debentures Solution TS Grewal Class 12 (2024-25)

Solution of Question number 6 of the Issue of Debentures Chapter of TS Grewal Book 2024-25 CBSE Board

Nipa Limited issued 10,000 debentures of ₹ 100 each at a premium of 10%, payable 30% of nominal (face) value on application (including Premium) and the balance on allotment. The debentures were applied for and the amount was duly received.

You are required to give Journal entries and prepare Cash Book.