Commerce (English Medium) इयत्ता १२ - CBSE Question Bank Solutions for Accountancy

Krishna Ltd. had outstanding 20,000, 9% debentures of ₹ 100 each on 1^st April 2014. These debentures were redeemable at a premium of 10% in two equal installments starting from 31^st March 2018. The company had a balance of ₹ 4,00,000 in Debenture Redemption Reserve on 31^st March 2017. Pass necessary journal entries for the redemption of debentures in the books of Krishna Ltd. for the year ended 31^st March 2018.

Where is the address of the active cell displayed?

While issuing ______ type of Debentures, company doesn’t give any undertaking for the repayment of money borrowed by issuing such debentures.

Elite Ltd. issued 20,000, 9% Debentures of ₹ 100 each at a discount of 10%, redeemable at a premium. On issue of these debentures, 'Loss on Issue of debentures account' was debited with ₹ 4,00,000. The premium on redemption of debentures is ______.

Sinco Ltd. purchased assets of the book value of ₹ 1,98,000 from Dixon Ltd. It was agreed that the purchase consideration be paid by issuing 10% debentures of 100 each.

Record the necessary journal entries in the books of Sinco Ltd. assuming that the debentures have been issued:

1. At a discount of 10%.
2. At a premium of 10%.

On 1.4.2021 Y Ltd. invited applications for issuing 10,000, 9% debentures of ₹ 100 each at a discount of 6%. The entire amount was payable with application. Application for 12,000, 9% debentures were received. 9% debentures were allotted on pro-rata basis to all the applications. Excess money received with applications was refunded.
On 31.3.2022 the company decided to write off discount on issue of debentures according to the provisions of the Companies Act, 2013. On that date the company had ₹ 10,000 in its securities premium reserve account.

Pass necessary journal entries for the above transactions in the books of the company.

Pioneer Fitness Ltd. took over the running business of Healthy World Ltd. having assets of ₹ 10,00,000 and liabilities of ₹ 1,70,000 by:

1. Issuing 8,000 8% Debentures of ₹ 100 each at 5% premium redeemable after 6 years @ ₹ 110; and
2. Cheque for ₹ 50,000.

Pass the Journal entries in the books of Pioneer Fitness Ltd.

Give the meaning of 'Debentures issued as Collateral Security'.

Give the meaning of ‘Issue of Debentures as a collateral security.’

Short Answer Question

Can the company purchase its own debentures?

Best Barcode Ltd. took a loan of  ₹ 5,00,000 from a bank giving  ₹ 6,00,000; 9% Debentures as collateral security. Pass journal entries regarding issue of debentures , if any, and show this loan in the Balance Sheet of the company.

A company took a loan of  ₹ 4,00,000 from Bandhan Bank Ltd. and issued  8% Debentures of  ₹ 4,00,000 as a collateral security.

X Ltd. took a loan of  ₹ 3,00,000 from IDBI Bank . The company issued 4,000; 9% Debentures of  ₹ 100 each as a collateral security for the same . Show how these items will be presented in the Balance Sheet of the company. 

S. Singh Limited obtained a loan of ₹ 5,00,000 from State Bank of India @ 10% p.a. interest. The company issued ₹ 7,50,000, 10% Debentures of ₹ 100 each in favour of State Bank of India as Collateral Security. Pass necessary Journal entries for the above transactions:
(i) When company decided not to record the issue of 10% Debentures as Collateral Security.
(ii) When company decided to record the issue of 10% Debentures as Collateral Security.

Which key combination collapses the ribbon?

What category of functions is used in this formula: =PMT (C10/12, C8, C9,1)

When Extend Selection is active, what is the keyboard shortcut for selecting all data up to and including the last row?

Which formulae would result in TRUE if C4 is less than 10 and D4 is less than 100?

Which of the following arguments in a financial function represents the total number of payments?

BG. Ltd. issued 2,000, 12% debentures of Rs.100 each on 1st April 2012. The issue was fully subscribed. According to the terms of issue, interest on the debentures is payable half-yearly on 30th September and 31st March and the tax deducted at source is 10%. Pass necessary journal entries related to the debenture interest for the half-yearly ending 31st March, 2013 and transfer of interest on debentures of the year to the Statement of Profit & Loss.