[ISC] Q. 3, 4 Issue of Debentures solution TS Grewal Class 12 (2026-27)

Solution of Question number 3 and 4 of the Issue of Debentures Chapter of TS Grewal Book ISC Board 2026-27 session?

Q. 3. Voltas Ltd. issued 20,000; 10% Debentures of 100 each at a premium of 10% payable on application.

Applications were received for the debentures issued and allotment was made.

Pass the necessary Journal entries.

Solution:

Q. 4. Date Palm Ltd. issued 5,000; 8% Debentures of ₹ 100 each at a premium of 5% payable as follows:

₹ 10 on application: ₹ 20 along with premium on allotment and balance on first and final call.

Pass necessary Journal entries and show the entries in the Balance Sheet.

Solution:-