[CBSE] Q. 24 Issue of Debentures Solution TS Grewal Class 12 (2024-25)

Solution of Question number 24 of the Issue of Debentures Chapter of TS Grewal Book 2024-25 CBSE Board

Anthony Ltd. issued 20,000, 9% Debentures of ₹ 100 each at 10% discount to Mithoo Ltd. from whom Assets of ₹ 23,50,000 and Liabilities of ₹ 6,00,000 were taken over. Pass entries in the books of Anthony Ltd. If these debentures were to be redeemed at 5% premium.

[Ans. Goodwill – ₹ 50,000; No. of Debentures issued – 20,000.]

Solution:-