[ISC] Q. 40 solution of Issue of Debentures TS Grewal Class 12 (2022-23)
Solution of Question number 40 of the Issue of Debentures Chapter of TS Grewal Book ISC Board 2022-23 session?
Woodlock Ltd. issued 20,000, 8% Debentures of ₹ 100 each on 1st April, 2021 redeemable at 20% premium. The debentures were fully subscribed.
It has a balance of ₹ 1,50,000 in Securities Premium Reserve Account.
Pass the necessary Journal entries for issue of debentures and writing off loss on issue of debentures.
Solution:-
