[CBSE] Q. 8 Issue of Debentures Solution TS Grewal Class 12 (2023-24)

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Solution of Question number 8 of the Issue of Debentures Chapter of TS Grewal Book 2023-24 CBSE Board?

Grand Hospitality Ltd. issued 10,000, 7% Debentures of ₹ 100 each at premium of ₹ 20 per debenture. Issue price was payable as follows: ₹ 40 on application, ₹ 50 (including premium) on allotment and balance on first and final call. It received ₹ 4,00,000 as application money. On allotment due amount 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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