[ISC] Q. 33, 34 Issue of Debentures solution TS Grewal Class 12 (2026-27)
Solution of Question number 33 and 34 of the Issue of Debentures Chapter of TS Grewal Book ISC Board 2026-27 session
Q. 33. On 1st April 2021, Light Ltd. issued 50,000, 8% Debentures of ₹ 100 each at a discount of 6% redeemable at a premium of 10% after 4 years. The amount was payable as follows:
On Application – ₹ 50 per debenture
On Allotment – Balance after discount.
Record the necessary Journal entry for the issue of debentures in the books of the company.
Solution:-
Q. 34. Health Resorts Ltd. issued 20,000, 8% Debentures of 50 each at par and redeemable at par after
5 years. The issue was subscribed, allotment was made and due amounts were received.
You are required to prepare Cash Book (Bank Column Only) and pass the Journal entries if:
(a) Issue price is payable with application; and
(b) Issue price is payable as 20 on Application, 20 on allotment and balance on first and final call.
Solution:-
