Q. 42 solution of Issue of Debentures Chapter TS Grewal Book Class 12 2021-22

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Are you looking for the solution of Question number 42 of the Issue of Debentures Chapter of TS Grewal Book 2021-22 Edition for the 2021-22 session?

Question number 42 of the issue of debentures chapter is a practical one.

Solution of Question Number 42 of Issue of Debentures Chapter of TS Grewal Book 2021-22 Class 12

Question – 42

Gladiators Ltd issued 10,000; 8% Debentures of ₹100 each at a discount of 5%, redeemable at a premium of 5% payable along with the application. It had a balance of ₹70,000 in Securities Premium Reserve and ₹50,000 in Capital Reserve. The debentures were fully subscribed and the amount was duly received.

Pass the necessary Journal entries for the issue of debentures and writting off Loss on Issue of Debentures.

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