Are you looking for the solution of Question number 19 of the Issue of Debentures Chapter of TS Grewal Book 2021-22 Edition for the 2021-22 session?
Question number 19 of the issue of debentures chapter is a practical one.
Solution of Question Number 19 of Issue of Debentures Chapter of TS Grewal Book 2021-22 Class 12
Question – 19
Exe Ltd. purchased assets of the book value ₹ 4,00,000 and took over the liabilities of ₹50,000 from Mohan Bros. It was agreed that the purchase consideration, settled at ₹3,80,000, be paid by issuing debentures of ₹100 each.
Pass Journal entries if debentures are issued: a) at par, b) at a discount of 10% and c) at a premium of 10%. It was agreed that any fraction of debentures be paid in cash.
Case – I
Case – II
Case – III