Are you looking for the solution of Question number 46 of the Issue of Debentures Chapter of TS Grewal Book 2021-22 Edition for the 2021-22 session?
Question number 46 of the issue of debentures chapter is a practical one.
Solution of Question Number 46 of Issue of Debentures Chapter of TS Grewal Book 2021-22 Class 12
Question – 46
Garvit Ltd. invited applications for issuing 3,000, 11% Debentures of ₹100 each at a discount of 6%. The full amount was payable on the application. The application was received for 3,600 debentures. Applications for 600 debentures were rejected and the application money was refunded. Debentures were allotted to the remaining applicants.
Pass the necessary Journal entries for the above transactions, including writing off the Discount on Issue of Debentures, in the book of Garvit Ltd.