[ISC] Q. 40 Issue of Debentures solution TS Grewal Class 12 (2023-24)

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Solution of Question number 40 of the Issue of Debentures Chapter of TS Grewal Book ISC Board 2023-24 session?

Woodlock Ltd. issued 20,000, 8% Debentures of ₹ 100 each on 1st April, 2021 redeemable at 20% premium. The debentures were fully subscribed.

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It has a balance of ₹ 1,50,000 in Securities Premium Reserve Account.

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Pass the necessary Journal entries for issue of debentures and writing off loss on issue of debentures.

Solution:-

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