[ISC] Q. 43, 44 Issue of Debentures solution TS Grewal Class 12 (2026-27)
Solution of Question number 43 and 44 of the Issue of Debentures Chapter of TS Grewal Book ISC Board 2026-27 session
Q. 43. Merchants Ltd. issued 5,000, 10% Debentures of ₹ 100 each on 1st April, 2021 redeemable at a premium of 20% after 4 years. Give Journal entries for the period ended 31st March 2022 assuming that the interest was payable half-yearly on 30th September and 31st March. TDS is deducted @ 10%.
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Q. 44. Ashoka Ltd. issued 5,000, 10% Debentures of 100 each on 1st April, 2025 at par redeemable at a premium of 10% after five years. The issue was fully subscribed. According to the terms of issue, interest on debentures is payable annually on 31st March. TDS is deducted @ 10%.
You are required to pass Journal entries to record the transactions of interest on debentures only for the year 2025-26.
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