[DK Goyal] Q 1 Issue of Debenture Solution CBSE (2022-23)

Are you looking for the solutions of Question number 1 Issue of Debentures Dk Goyal Class 12 CBSE 2022-23

I have solved all unsolved practical problems of Issue of debentures chapter of class 12 DK Goyal CBSE 2022-23

DK Goyal Question number 1 Issue of Debentures solutions class 12 CBSE (2022-23)

Question – 1

X Ltd. issued 2,000, 15% debentures of ₹100 each at par, payable as follows: ₹ 25 on Application; ₹ 25 on Allotment, and ₹ 50 on First and Final Call.

Applications were received for 3,000 debentures. Applications for 1,600 debentures were accepted in full. Applications for 600 debentures were allotted 400 debentures and the rest were rejected. All money due was received except the final call on 100 debentures.

Pass necessary journal entries.

Solution:-