[CBSE] Q. 36 Issue of Debentures Solution TS Grewal Class 12 (2024-25)

Solution of Question number 36 of the Issue of Debentures Chapter of TS Grewal Book 2024-25 CBSE Board

Care Cosmetics Ltd. issued 50,000; 9% Debentures of ₹ 10 each on 1st April, 2021 redeemable at a premium of 10% after 10 years. According to the terms of issue, ₹ 4 is payable on application and balance on allotment of debentures. Record necessary Journal entries regarding issue of debentures.

Solution:-