Are you looking for the solution of Question number 30 of the Issue of Debentures Chapter of TS Grewal Book 2021-22 Edition for the 2021-22 session?
Question number 30 of the issue of debentures chapter is a practical one.
Solution of Question Number 30 of Issue of Debentures Chapter of TS Grewal Book 2021-22 Class 12
Question – 30
S. Singh Limited obtained a loan of ₹ 5,00,000 from the State Bank of India @ 10% p.a. interest. The company issued ₹ 7,50,000, 10% Debentures of ₹ 100 each in favour of the State Bank of India as Collateral Security.
Pass necessary Journal entries for the above transactions:
i) When Company decided not to record the issue of 10% Debentures as Collateral Security
ii) When Company decided to record the issue of 10% Debentures as Collateral Security.