[ISC] Q 21 Redemption of Debenture TS Grewal (2024-25)

Solution of question number 21 of Redemption of Debenture Ts Grewal class 12 ISC Board (2024-25)

Pass necessary Journal entries in the books of Kotak Finance Ltd., a listed NBFC, for issue and redemption of Debentures in the following cases:

(i) 2,500, 8% Debentures of ₹ 100 each at a premium of ₹ 10, repayable at par.

(ii) 2,500, 7% Debentures of ₹ 100 each at a premium of 10%, repayable at premium of ₹ 10.

Solution:-

Case (i)

Case (ii)