[ISC] Q. 37, 38 Issue of Debentures solution TS Grewal Class 12 (2026-27)
Solution of Question number 37 and 38 of the Issue of Debentures Chapter of TS Grewal Book ISC Board 2026-27 session
Q. 37. Vibhuti Ltd. issued 10,000, 8% Debentures of 100 each at a discount of 5% and redeemable at a premium of 10%. The issue was subscribed, allotment was made and due amounts were received.
You are required to pass the Journal entries when:
(a) Issue price is payable with application; and
(b) Issue price is payable as * 25 on Application, ₹45 on allotment and balance on first and final call.
Solution:-
Q. 38. Varsha Ltd. issued 10,000, 8% Debentures of 100 each at a premium of 5% and redeemable at a
premium of 10%. The issue was subscribed, allotment was made and due amounts were received.
You are required to pass the Journal entries when:
(a) Issue price is payable with application; and
(b) Issue price is payable as 25 on Application, 55 on allotment and balance on first and final call.
Solution:-
