[CBSE] Q. 8 Issue of Debentures Solution TS Grewal Class 12 (2024-25)

Solution of Question number 8 of the Issue of Debentures Chapter of TS Grewal Book 2024-25 CBSE Board

Grand Hospitality Ltd. issued 10,000, 7% Debentures of ₹ 100 each at premium of ₹ 20 per debenture. Issue price was payable as follows: ₹ 40 on application, ₹ 50 (including premium) on allotment and balance on first and final call. It received ₹ 4,00,000 as application money. On allotment due amount was received. First and final call is yet to be made. You are required to pass the necessary Jouranl entries.

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