[CBSE] Q. 52 Issue of Debentures Solution TS Grewal Class 12 (2024-25)

Solution of Question number 52 of the Issue of Debentures Chapter of TS Grewal Book 2024-25 CBSE Board

Global Ltd. issued 10,000, 8% Debentures of ₹ 100 each redeemable in four equal instalments by draw of lots from the end of 3 years at a premium of ₹ 9.

Pass the Journal entries for writing off the loss on Issue of Debentures. Also prepare Loss on Issue of Debentures Account.

[Ans.: Dr. Statement of Profit & Loss (Finance Cost) and Cr. Loss on Issue of Debentures A/c by ₹ 90,000.]

Solution:-