[CBSE] Q. 23 Issue of Debentures Solution TS Grewal Class 12 (2026-27)

Solution of Question number 23 of the Issue of Debentures Chapter of TS Grewal Book 2026-27 CBSE Board

Gundola Ltd. took over assets of ₹ 9,00,000 and liabilities of ₹ 3,00,000 from AK Ltd. for an agreed purchase consideration of ₹ 14,00,000. The payment was made through a bank draft of ₹ 5,00,000 and the remaining by issue of 8% Debentures at a discount of 10%.

Record necessary Journal entries in the books of Gundola Ltd. for the above transactions.

[Ans.: Number of Debentures to be issued = 10,000; Goodwill = ₹ 8,00,000.]

Solution:-