[CBSE] Q. 57 Issue of Debentures Solution TS Grewal Class 12 (2024-25)

Solution of Question number 57 of the Issue of Debentures Chapter of TS Grewal Book 2024-25 CBSE Board

Dev Ltd. acquired running business of Amrit Ltd. having assets of ₹ 10,00,000 and liabilities of ₹ 2,50,000. 9% Debentures of ₹ 100 each were issued for the acquisition of business at a premium of ₹ 20 per debenture. The company issued 10,000, 8% Debentures of ₹ 100 each redeemable at premium of ₹ 20 per debenture after 5 years.

You are required to pass the Journal entries for the above transactions.

Solution:-