[ISC] Q. 31, 32 Issue of Debentures solution TS Grewal Class 12 (2026-27)

Solution of Question number 31 and 32 of the Issue of Debentures Chapter of TS Grewal Book ISC Board 2026-27 session

Q. 31. 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:-

Q. 32. Golden Cosmetics Ltd. issued 50,000; 9% Debentures of ₹ 10 each on 1st April, 2021 redeemable at a premium of 10% after 10 years. According to the terms of issue ₹ 4 is payable on application and balance on allotment of debentures. Record necessary Journal entries regarding issue of debentures.

Solution:-