[ISC] Q. 51, 52 Issue of Debentures solution TS Grewal Class 12 (2026-27)
Solution of Question number 51 and 52 of the Issue of Debentures Chapter of TS Grewal Book ISC Board 2026-27 session
Q. 51. On 1st April, 2025, Sunrise Ltd. took over the business of Venus Ltd. having assets of 25,00,000 and liabilities of 4,25,000 by:
(i) Issuing 20,000, 9% Debentures of 100 each at 5% premium redeemable at 10% premium after
4 years, and
(ii) Cheque for 1,25,000.
You are required to pass the Journal entries (including writing off Capital Loss) in the books of Sunrise Ltd.
Solution:-
Q. 52. Chrome Ltd. took over assets of ₹ 6,00,000 and liabilities of ₹ 40,000 of Polymer Ltd. at an agreed value of ₹ 6,30,000. Chrome Ltd. issued 10% Debentures of ₹ 100 each at a discount of 10% to Polymer Ltd. in full satisfaction of the price. Chrome Ltd. writes off any capital losses incurred during a year, at the end of that financial year.
You are required to pass the necessary Journal entries to record the above transactions in the books of Chrome Ltd.
Solution:-
