Are you looking for the solution of Question number 40 of the Issue of Debentures Chapter of TS Grewal Book 2021-22 Edition for the 2021-22 session?
Question number 40 of the issue of debentures chapter is a practical one.
Solution of Question Number 40 of Issue of Debentures Chapter of TS Grewal Book 2021-22 Class 12
Question – 40
Kitply Ltd. issued ₹ 2,00,000, 10% Debentures at a discount of 5%. The terms of the issue provide the repayment at the end of 4 years. Kitply Ltd. has a balance of ₹ 5,00,000 in Securities Premium Reserve.
Pass the Journal entries for the issue of debentures and the writing off the discount.