[DK Goel] Q. 23, 24 Issue of Debentures Solutions Class 12 CBSE (2026-27)
Here are the solution of question number 23 and 24 of Issue of debentures chapter 7 of DK Goel Class 12 CBSE (2026-27).
Q. 23. On January 1, 2025 Ritu Ltd. issued ₹40,00,000, 8% Debentures of ₹100 each at 5% discount to be redeemed at 10% premium at the end of 5 years. Balance in Securities Premium on the date of such issue was ₹2,70,000. Pass entries for Issue of debentures.
(C.B.S.E. Sample Paper, 2026)
Solution:-
Q. 24. On 1st April, 2022, Harbour Ltd. issued 50,000, 6% Debentures of ₹100 each to the public at discount of 5% to be redeemed after three years at a premium of 7%. On this date, the company also issued 1,00,000 Equity shares of 10 each at a premium of ₹2 per share.
Both the issues were fully subscribed.
You are required to prepare the following accounts for the 2022-23 in the books of Harbour Ltd.:
(i) 6% Debentures Account.
(ii) Loss on issue of Debentures Account.
Solution:-
