[CBSE] Q. 10 Issue of Debentures Solution TS Grewal Class 12 (2023-24)

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Solution of Question number 10 of the Issue of Debentures Chapter of TS Grewal Book 2023-24 CBSE Board?

Pure Products Ltd. issued 30,000, 8% Debentures of ₹ 100 each at 10% premium for subscription. The issue price was payable ₹ 40 on application, ₹ 40 (including premium) on allotment and balance on first and final call. It received application money amounting to ₹ 10,80,000. Allotment was made and allotment money was received. First and Final call is yet to be made.

You are required to pass the necessary Journal entries.

Solution:-

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Anurag Pathak

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