Q. 1 DK Goel Issue of Debentures Solutions Class 12 CBSE (2024-25)

Here are the solution of question number 1 of Issue of debentures chapter 7 of DK Goel Class 12 CBSE (2024-25).

Q. 1. X Ltd. issued 2,000, 15% debentures of ₹ 100 each at par, payable as follows: ₹ 25 on Application; ₹ 25 on Allotment and ₹ 50 on First and Final Call.

Applications were received for 3,000 debentures. Applications for 1,600 debentures were accepted in full. Applications for 600 debentures were allotted 400 debentures and the rest were rejected. All moneys due were received except final call on 100 debentures.

Pass necessary journal entries.

[Ans. Cash at Bank ₹ 1,95,000.]

Solution:-