DK Goel Solutions ISC Q 20 Chapter 7 Company Accounts-Issue of Debentures Class 12 ISC [2023-24]
Step-by-step solution of Question 20, Chapter 7 Company Accounts – Issue of Debentures, DK Goel Class 12 Accountancy 2023-24 for the ISC Board.
Question 20
Usha Ltd. issued 30,000, 10% Debentures of ₹ 100 each as collateral security for a loan of ₹ 24,00,000 from Axis Bank. The company was unable to repay the loan on which interest payable was ₹ 6,00,000 as on 31st March, 2022.
Axis Bank, on 31st March, 2022, exercised the right vested in it by way of debentures being issued as collateral Security.
Pass Journal entries in the books of Usha Ltd. on 31st March, 2022.
Solution
All questions of Chapter 7
Orange = this question · Grey = already opened.
About this solution
This is Chapter 7 Company Accounts-Issue of Debentures of DK Goel For 2024 Examinations.
Written by Vijay Adarsh, teaching commerce since 2003 to Class 11, Class 12, B.Com, CA, CS and CMA students.
We have solved all the practical questions in this book and explained them Step by Step in detail with clear working notes.
Also, we have followed the proper format and workings which are required as per ISC Guidelines. Just follow our presentation of solutions and score good marks in the Accountancy Board Exam.
Stuck on this question? Ask Vijay Sir
Be the first to ask on this question.