[ISC] Q. 28 Issue of Debentures solution TS Grewal Class 12 (2023-24)

Solution of Question number 28 of the Issue of Debentures Chapter of TS Grewal Book ISC Board 2023-24 session?

Pass Journal entries in the following cases:

(a) Andy Ltd. issued 4,000; 12% Debentures of ₹ 100 each at a premium of 5% redeemable at par.

(b) Grant Ltd. issued 4,000; 12% Debentures of ₹ 100 each at a discount of 10% redeemable at par.

(c) Steve Ltd. issued 4,000; 12% Debentures of ₹ 100 each at par redeemable at 10% premium.

(d) Mark Ltd. issued 4,000; 12% Debentures of ₹ 100 each at a discount of 5% and redeemable at 5% premium.

(e) Sam Ltd. issued 4,000; 12% Debentures of ₹ 100 each at a premium of 10% redeemable at 110%.

Solution:-