Arts (English Medium) Class 12 - CBSE Important Questions

Which formulae would result in TRUE if C3 is less than 14 and D4 is less than 200?

What category of functions is used in this formula: =PMT(D11/15,D12,D 12,5)

VKR Ltd. issued 975; 9% Debentures of Rs 500 each on 4-3-2016. Pass necessary journal entries for the issue of debentures under the following situations :

(a) When debentures were issued at a premium of 10% redeemable at a premium of 6%.

(b) When debentures were issued at a par redeemable at 9% premium.

On 1.4.2015, KVK Ltd. issued 15,000, 9% debentures of Rs 100 each at a discount of 7%, redeemable t a premium of 10% after 10 years. The company closes its books on 31st March every year. Interest on 9%debentures is payable on 30th September and 31st March every year. The rate of tax deducted at source is 10%.

Pass necessary journal entries for the issue of 9% debentures and debenture interest for the year ended 31.3.2016.

Pass the necessary journal entries for an issue of 1,000, 7% Debentures of `100 each in the following cases:

1) Issued at 5% premium redeemable at a premium of 10%.

2) Issued at a discount of 5% redeemable at par.

Taneja Constructions Ltd. has an outstanding balance of Rs 5,00,000, 7% debentures of Rs 100 each redeemable at a premium of 10%. According to the terms of redemption, the company redeemed 30% of the above debentures by converting them into shares of Rs 50 each at a premium of 20%. Record the entries for the redemption of debentures in the books of Taneja Constructions Ltd.

Pass the necessary journal entries for the issue of debentures in the following cases:

Rs 30,000, 12% debentures of Rs 100 each issued at a discount of 5% redeemable at par.

Pass the necessary journal entries for the issue of debentures in the following cases:

Rs 60,000, 12% debentures of Rs 100 each issued at a discount of 5% redeemable at Rs 105.

Explain the different types of debentures?

Fill in the blank.
For recording the issue of debentures as collateral security by a journal entry _______ account is debited.

Garvit Ltd. invited applications for issuing 3,000, 11% Debentures of ₹ 100 each at a discount of 6%. The full amount was payable on application. Applications were 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 in the books of Garvit Ltd.

On 1^st April 2015, P Ltd. Issued 6,000 12% Debentures of ₹ 100 each at par redeemable at a premium of 7%. The Debentures were to be redeemed at the end of the third year. Prepare Loss on the issue of 12% Debentures Account.

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.

Yogacara Ltd. (pharmaceutical company) appointed marketing expert, Mr Kartikay as the CEO of the company, with a target to penetrate their roots in the rural regions. Mr Kartika discussed the ways and means to achieve the target of the company with financial, production and marketing departmental heads and asked the finance manager to prepare the budget. After reviewing the suggestions given by all the departmental heads, the finance manager proposed the requirement of an additional fund of ₹52,50,000. Yogacara Ltd. is a zero-debt company. To avail of the benefits of financial leverage, the finance manager proposed to include debt in the capital structure. After deliberations, on April 1, 2020, the board of directors decided to issue 6% Debentures of ₹100 each to the public at a premium of 5%, redeemable after 5 years at ₹110 per share.

You are required to answer the following questions:

1. Calculate the number of debentures to be issued to raise additional funds.
2. Pass Journal entry for the allotment of debentures.
3. Pass Journal entry to write off the loss on issue of debentures
4. Calculate the amount of annual fixed obligation associated with debentures.
5. Prepare Loss on Issue of Debentures Account.

Pass necessary journal entries for the issue of debentures in the following cases :

1. Issued ₹ 75,00,000, 9% debentures of ₹100 each at a premium of 10% redeemable at a premium of 5% after 3 years.
2. Issued 8,000, 9% debentures of ₹100 each at a discount of 6% redeemable at a premium of 3% after 5 years.
3. Issued 90,000, 9% debentures of ₹100 each at par, redeemable at par after 4 years.

Pass necessary journal entries for the issue of debentures in the following cases :

1. Issued ₹ 7,00,000, 9% debentures of ₹ 100 each at a premium of 20% redeemable at a premium of 10% after 6 years.
2. Issued 10,000, 12% debentures of ₹ 100 each at 10% discount redeemable at a premium of 5% after 5 years.
3. Issued 75,000, 12% debentures of ₹ 100 each at par, redeemable at premium of 10% after three years.

Pass necessary journal entries for the issue of debentures in the following cases:

1. Issued 5,000, 9% debentures of ₹ 100 each at a discount of 10% redeemable at a premium of 5% after 5 years.
2. Issued 30,000, 12% debentures of ₹ 100 each at a premium of 5% and redeemable at par after 5 years.
3. Issued 8,750, 12% debentures of ₹100 each at par, redeemable at par after 5 years.

'Vimal Ltd. purchased assets a worth ₹ 5,00,000 and took over liabilities of ₹ 1,00,000 of Kapil Ltd. for a purchase consideration of ₹ 4,50,000. Vimal Ltd. paid one third of the amount of cheque and balance was settled by issuing 11% debentures of 100 each at a premium of 20%.

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

Kuber Ltd. purchased assets worth ₹ 10,00,000 and took over liabilities of ₹ 1,00,000 of Amrit Ltd. for a purchase consideration of ₹ 8,00,000. Kuber Ltd. paid ₹ 2,60,000 through a cheque and the balance was settled by issuing 12% debentures of ₹ 100 each at a discount of 10%. Pass necessary journal entries in the books of Kuber Ltd. for the above transactions. 

Neon Ltd. purchased assets worth ₹ 18,00,000 and took over liabilities of ₹ 2,00,000 of Zenith Ltd. for a purchase consideration of ₹ 15,00,000, Neon Ltd. paid the amount by accepting a bill of exchange of 3,00,000 and the balance was settled by issuing 10% debentures of ₹ 100 each at a premium of 20%. Pass necessary journal entries for the above transactions in the books of Neon Ltd.