[ISC] Q. 15, 16 Issue of Debentures solution TS Grewal Class 12 (2026-27)

Solution of Question number 15 and 16 of the Issue of Debentures Chapter of TS Grewal Book ISC Board 2026-27 session?

Q. 15. Promising Company Ltd. took over assets of ₹ 2,50,000 and liabilities of ₹ 30,000 of Goneby Company for the purchase consideration of ₹ 3,30,000. Promising Company Ltd. paid the purchase consideration by issuing debentures of ₹ 100 each at 10% premium.

Give Journal entries in the books of Promising Company Ltd.

Solution:-

Q. 16. Hero Ltd. purchased assets of the books value of ₹ 4,00,000 and took over the liabilities of ₹ 50,000 from Mohan Bros. It was agreed that the purchase consideration, settled at ₹ 3,80,000, be paid by issuing debentures of ₹ 100 each at a discount of 10%.

Give Journal entries in the books of Exe Ltd.

Solution:-