[ISC] Q. 39 Issue of Debentures solution TS Grewal Class 12 (2024-25)

Solution of Question number 39 of the Issue of Debentures Chapter of TS Grewal Book ISC Board 2024-25 session.

Aar Kay Ltd. issued on 1st April, 2023, 15,000; 10% Debentures of ₹ 100 each at a premium of 10% redeemable at a premium of 5%. The amount was payable along with application and the interest was payable half-yearly on 30th September and 31st March each year. Tax is deducted @ 20%.

Applications were received for 20,000 Debentures. Allotement was made to all the applicants on pro rata basis.

You are required to:

(i) Pass Journal entries for issue of debentures.

(ii) Pass Journal entries for interest, and

(iii) Prepare 10% Debentures Account.

Solution:-

Here is the list of all Solutions.

S.N	Solutions
1	Question – 1
2	Question – 2
3	Question – 3
4	Question – 4
5	Question – 5
6	Question – 6
7	Question – 7
8	Question – 8
9	Question – 9
10	Question – 10

S.N	Solutions
11	Question – 11
12	Question – 12
13	Question – 13
14	Question – 14
15	Question – 15
16	Question – 16
17	Question – 17
18	Question – 18
19	Question – 19
20	Question – 20

S.N	Solutions
21	Question – 21
22	Question – 22
23	Question – 23
24	Question – 24
25	Question – 25
26	Question – 26
27	Question – 27
28	Question – 28
29	Question – 29
30	Question – 30

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31	Question – 31
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33	Question – 33
34	Question – 34
35	Question – 35
36	Question – 36
37	Question – 37
38	Question – 38
39	Question – 39
40	Question – 40

S.N	Solutions
41	Question – 41
42	Question – 42
43	Question – 43
44	Question – 44
45	Question – 45
46	Question – 46
47	Question – 47