[ISC] Q. 53, 54 Issue of Debentures solution TS Grewal Class 12 (2026-27)

Solution of Question number 53 and 54 of the Issue of Debentures Chapter of TS Grewal Book ISC Board 2026-27 session

Q. 53. On 1st April, 2025, Anand Ltd. purchased business of WYE Ltd. for ₹ 26,00,000 payable 25% by a cheque and the balance by an issue of 9% Debentures of ₹ 500 each at a premium of ₹ 250 per debenture
redeemable at a premium of 60%. The assets and liabilities takenover were as follows:

Building- 15,00,000; Machinery— 2,50,000; Inventories— 5,00,000; Trade Receivables— 4,50,000; Trade Payables – ₹ 2,00,000.
Pass the necessary Journal entries in the books of Anand Ltd. including writing off Capital Loss, if there is any.

Solution:-

Q. 54. On 1st April, 2025, K.K. Ltd. issued 10,000; 10% Debentures of 100 each at a discount of 10% redeemable at a premium of 5%. It has balances of 1,00,000 in Capital Reserve and 50,000 in the Securities Premium. The company decided to write off discount or loss on issue of debentures in the year ended 31st March, 2026 from the Securities Premium and Capital Reserve in the year of issue.

Pass the necessary Journal entries for issue of debentures and writing off loss and prepare Loss on Issue

Solution:-