[CBSE] Q. 14 Issue of Debentures Solution TS Grewal Class 12 (2024-25)

Solution of Question number 14 of the Issue of Debentures Chapter of TS Grewal Book 2024-25 CBSE Board

The Decor Ltd. issued 20,000, 6% Debentures of ₹ 100 each at 10% discount payable ₹ 30 on application, ₹ 40 (after discount) and balance as first and final call. Debentures were subscribed and allotment was made. Amount due on allotment was made and received. First and final call is yet to be made.

You are required to pass the necessary Journal entries.

Solution:-