[ISC] Q. 11, 12 Issue of Debentures solution TS Grewal Class 12 (2026-27)

Solution of Question number 11 and 12 of the Issue of Debentures Chapter of TS Grewal Book ISC Board 2026-27 session?

Q. 11. Youth Ltd. issued 5,000, 10% Debentures of 100 each credited as fully paid to the promoters for their services to incorporate the company and issued 2,000, 10% Debentures of 100 each as fully paid to the underwriters for their underwriting services.

Journalise these transactions.

Solution:

Q. 12. Karur Ltd. purchased a running business of Vysa Ltd. for ₹ 5,40,000 payable as ₹ 1,00,000 by cheque and the balance by issue of 9% Debentures of ₹ 100 each at a premium of 10%. Give Journal entries in the book of Karur Ltd.

Solution:-