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Micheal Vaz solutions for 12th Board Exam Book Keeping and Accountancy chapter 11 - Company Accounts Part - 2 (Accounting for Debentures)

Micheal Vaz Class 12 Accounts - Book Keeping and Accountancy

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Micheal Vaz Micheal Vaz Class 12 Accounts - Book Keeping and Accountancy

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Chapter 11: Company Accounts Part - 2 (Accounting for Debentures)

Exercise

Chapter 11: Company Accounts Part - 2 (Accounting for Debentures) Exercise Exercise solutions [Page 372]

Exercise | Q 1 | Page 372

Answer in a sentence only.
What is meant by debenture?

Exercise | Q 2 | Page 372

Answer in a sentence only.
What do you mean by Bearer Debenture?

Exercise | Q 3 | Page 372

Answer in a sentence only.
What is meant by ‘Issue’ of debentures for consideration other than cash?

Exercise | Q 4 | Page 372

Answer in a sentence only.
What is meant by ‘Issue of debenture at discount and redeemable at premium’?

Exercise | Q 5 | Page 372

Answer in a sentence only.
What is a ‘Convertible Debenture’?

Exercise | Q 6 | Page 372

Answer in a sentence only.
What is meant by ‘Mortgaged Debenture’?

Exercise | Q 7 | Page 372

Answer in a sentence only.
What is meant by redemption of Debentures?

Exercise | Q 8 | Page 372

Answer in a sentence only.
What is meant by ‘Premium on Redemption of debentures?

Exercise | Q 9 | Page 372

Answer in a sentence only.
What is meant by ‘Irredeemable Debentures?

Exercise | Q 10 | Page 372

Answer in a sentence only.
What do you mean by ‘Debenture Interest’?

Chapter 11: Company Accounts Part - 2 (Accounting for Debentures) Exercise Exercise solutions [Page 372]

Exercise | Q 1 | Page 372

Write one word/term/phrase which can substitute the following
The debentures where a charge is created on the assets of company.

Exercise | Q 2 | Page 372

Write one word/term/phrase which can substitute the following
The debentures where no charge is created on the assets of company.

Exercise | Q 3 | Page 372

Write one word/term/phrase which can substitute the following
The acknowledgment of debt under common seal of company.

Exercise | Q 4 | Page 372

Write one word/term/phrase which can substitute the following
The debentures of which payment is made on the expiry of specific period.

Exercise | Q 5 | Page 372

Write one word/term/phrase which can substitute the following
The debentures of which the payment is not made until the winding up of company.

Exercise | Q 6 | Page 372

Write one word/term/phrase which can substitute the following
The debentures which are converted in to shares.

Exercise | Q 7 | Page 372

Write one word/term/phrase which can substitute the following
The debentures which are not converted into shares.

Exercise | Q 8 | Page 372

Write one word/term/phrase which can substitute the following
The debentures which are registered in the register of company.

Exercise | Q 9 | Page 372

Write one word/term/phrase which can substitute the following
The debentures which are transferred by way of delivery.

Exercise | Q 10 | Page 372

Write one word/term/phrase which can substitute the following
The issue of debentures more than face value of debentures

Chapter 11: Company Accounts Part - 2 (Accounting for Debentures) Exercise Exercise solutions [Pages 372 - 373]

Exercise | Q 1 | Page 372

Select most appropriate alternative from those given below
__________ is acknowledgment of debt under common seal of company.

  • Share

  • Debenture

  • Cheque

  • Bond

Exercise | Q 2 | Page 372

Select most appropriate alternative from those given below :
The issue of debenture at its face value is called the issue ___________.

  • at par

  • at discount

  • at premium

  • none of these

Exercise | Q 3 | Page 372

Select most appropriate alternative from those given below ____________debentures which are recorded in register of company.

  • Simple debentures

  • Registered debentures

  • Bearer debentures

  • Open debentures

Exercise | Q 4 | Page 372

Select most appropriate alternative from those given below :
The issue of debentures less than the face value is called ___________.

  • at par

  • at premium

  • at discount

  • none of these

Exercise | Q 5 | Page 372

Select most appropriate alternative from those given below :
The debentures which are converted into shares is called____________.

  • converted debentures

  • non-convertible debenture

  • bearer debentures

  • unsecured debentures

Exercise | Q 6 | Page 372

Select most appropriate alternative from those given below :
The issue of debentures more than face value is called___________.

  •  at par

  •  at discount

  •  at premium

  •  none of these

Exercise | Q 7 | Page 372

Select most appropriate alternative from those given below :
___________debentures of which the amount is repaid written specific period.

  • Redeemable

  • Irredeemable

  • Secured

  • Non convertible

Exercise | Q 8 | Page 373

Select most appropriate alternative from those given below :
__________ debentures which are not secured against any charge on asset of the company.

  • Secured

  • Unsecured

  • Redeemable

  • Convertible

Exercise | Q 9 | Page 373

Select most appropriate alternative from those given below :
The interest on debentures is transferred to __________.

  • Debentures A/c

  • Profit of Loss A/c

  • Balance Sheet

  • Debenture holders A/c

Exercise | Q 10 | Page 373

Select most appropriate alternative from those given below :
The debenture holder is ___________ of the company.

  • debtor

  • creditor

  • owner

  • supplier

Chapter 11: Company Accounts Part - 2 (Accounting for Debentures) Exercise Exercise solutions [Page 373]

Exercise | Q 1 | Page 373

State to whether the following statement is True/False.
The debenture holder is owner of the company.

  • True

  • False

Exercise | Q 2 | Page 373

State to whether the following statement is True/False.
The acknowledgement of debt under common seal of company in termed as share.

  • True

  • False

Exercise | Q 3 | Page 373

State to whether the following statement is True/False.
The amount of irredeemable debentures is not paid in the life time of the company.

  • True

  • False

Exercise | Q 4 | Page 373

State to whether the following statement is True/False.
The issue of debentures less than face value of debenture to termed as issue of debentures at discount.

  • True

  • False

Exercise | Q 5 | Page 373

State to whether the following statement is True/False.
The debentures are known as creditors ship capital of the company.

  • True

  • False

Exercise | Q 6 | Page 373

State to whether the following statement is True/False.
The unregistered debentures are known as naked debentures.

  • True

  • False

Exercise | Q 7 | Page 373

State to whether the following statement is True/False.
The rate of interest on debentures is attached to the debenture

  • True

  • False

Exercise | Q 8 | Page 373

State to whether the following statement is True/False.
Unsecured debentures are safer than secured debentures.

  • True

  • False

Exercise | Q 9 | Page 373

State to whether the following statement is True/False.
The issue of debenture more than face value is termed on issue of debentures at par.

  • True

  • False

Exercise | Q 10 | Page 373

State to whether the following statement is True/False.
Premium on issue of debentures is recorded on the asset side of balance sheet.

  • True

  • False

Chapter 11: Company Accounts Part - 2 (Accounting for Debentures) Exercise Exercise solutions [Pages 373 - 374]

Exercise | Q 1 | Page 373

Amar Ltd. issued 10,000 12% Debentures of Rs 100 each payable Rs 30 on application and remaining amount on allotment. The public applied for Rs 9,000 debentures which were fully allotted and on the relevant allotment money duly received. Give journal entries in the books of Amar Ltd.

Exercise | Q 2 | Page 373

Tanagi Ltd. issued Rs 10,000 12% debentures of Rs 100 each at a discount of 5% Payable as follows:
On Application Rs 40
On Allotment Rs 55
Show journal entries assuming that all the installments were duly collected. Also show the relevant portion of the balance sheet.

Exercise | Q 3 | Page 374

Archana Ltd. issued 2,000 10% Debentures of Rs 100 each at a premium of Rs 10 per Debenture payable as follows:
 On Application : Rs. 50
 On Allotment : Rs. 60 (Premium included Rs. 10)
The Debentures were fully subscribed and all money was duly received.
Pass Journal entries and show how the amounts appear in Balance Sheet.

Exercise | Q 4 | Page 374

Amar Ltd. purchased assets of the book value of Rs 99,000 from Abhi Ltd. It was agreed that purchase consideration to be paid by issuing 11% Debentures of Rs 100 each Assume debentures have been issued.
1. At par
2. At Discount of 10% and
3. At Premium of 10%
Record necessary journal entries

Exercise | Q 5 | Page 374

Dinesh Ltd. Issued 10,00,000 6% Debentures on 1st April, 2010. Interest is paid on 30 sept., 2010 and 31st March, 2011.
Record necessary journal entries assuming that income tax is deducted at 30% of the amount of interest.

Chapter 11: Company Accounts Part - 2 (Accounting for Debentures)

Exercise

Micheal Vaz Micheal Vaz Class 12 Accounts - Book Keeping and Accountancy

Micheal Vaz Class 12 Accounts - Book Keeping and Accountancy - Shaalaa.com

Micheal Vaz solutions for 12th Board Exam Book Keeping and Accountancy chapter 11 - Company Accounts Part - 2 (Accounting for Debentures)

Micheal Vaz solutions for 12th Board Exam Accounts chapter 11 (Company Accounts Part - 2 (Accounting for Debentures)) include all questions with solution and detail explanation. This will clear students doubts about any question and improve application skills while preparing for board exams. The detailed, step-by-step solutions will help you understand the concepts better and clear your confusions, if any. Shaalaa.com has the Maharashtra State Board Micheal Vaz Class 12 Accounts - Book Keeping and Accountancy solutions in a manner that help students grasp basic concepts better and faster.

Further, we at Shaalaa.com provide such solutions so that students can prepare for written exams. Micheal Vaz textbook solutions can be a core help for self-study and acts as a perfect self-help guidance for students.

Concepts covered in 12th Board Exam Book Keeping and Accountancy chapter 11 Company Accounts Part - 2 (Accounting for Debentures) are Meaning of Share and Share Capital, Nature and Types of Share and Share Capital, Accounting for Share Capital, Share Capital - Issue and Allotment of Equity Shares, Private Placement of Shares, Public Subscription of Shares, Over Subscription of Shares, Under Subscription of Shares, Issue at Par and Premium and at Discount, Calls in Advance and Arrears, Issue of Shares for Consideration Other than Cash, Accounting Treatment of Forfeiture and Re-issue of Share, Disclosure of Share Capital in Company’S Balance Sheet (Horizontal Form), Meaning and Concept of Debentures, Issue of Debentures at Par at Premium and at Discount, Issue of Debentures for Consideration Other than Cash, Interest on Debentures.

Using Micheal Vaz 12th Board Exam solutions Company Accounts Part - 2 (Accounting for Debentures) exercise by students are an easy way to prepare for the exams, as they involve solutions arranged chapter-wise also page wise. The questions involved in Micheal Vaz Solutions are important questions that can be asked in the final exam. Maximum students of Maharashtra State Board 12th Board Exam prefer Micheal Vaz Textbook Solutions to score more in exam.

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