[ISC] Q. 44 Solution of Issue of Debentures TS Grewal ISC 2023-24 Edition
Step-by-step solution of Question 44, Chapter 8 Joint Stock Company – Issue of Debentures, TS Grewal Class 12 Accountancy 2023-24 for the ISC Board.
Question 44
On 1st April, 2022, Solar Power Ltd. issued 10,000, 8% Debentures of ₹ 100 each at a discount of 5% redeemable at a premium of 15% at the end of five years. All the debentures were subscribed and allotment was made.
The company had balance in Securities Premium of ₹ 80,000.
Prepare the Balance Sheet (extract) as at 31st March, 2023 showing Loss on Issue of Debentures.
The company decided to write off loss equally over the life of the debentures.
Solution
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About this solution
This is Chapter 8 Issue of Debentures of ISC TS Grewal Edition 2023-24.
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 Guidelines Issued by the ISC Council. Just follow our presentation of solutions and score good marks in Accountancy Exam.
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