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CUET Accountancy 2022 PYQs16 July Shift 2. Free, no login required.

Company Accounts

past year questions, CUET Accountancy 2022 16 July Shift 2

Debentures

past year questions, Company Accounts, CUET Accountancy 2022 16 July Shift 2

Medium

Z Ltd issued 15,000, 12% Debentures of Rs.100 each at a premium of 2% redeemable at a premium of 5% In such case:

Solution

✅ Correct Option: 1

Loss on Issue of Debentures equals the Premium payable on Redemption (the issue premium is credited to Securities Premium and is not a loss). Premium on Redemption = 15,000 x 100 x 5% = Rs.75,000. Therefore Loss on Issue of Debentures A/c is debited by Rs.75,000.

Related questions:

2022: 20 Aug Shift 2

Blue Prints Ltd. purchased a building worth Rs. 1,50,000, Machinery worth Rs. 1,40,000 and Furniture worth Rs. 10,000 from XYZ Co. and took over its liabilities of Rs. 20,000 for a purchase consideration of Rs. 3,15,000.

Calculate the Goodwill/Capital Reserve to be recorded by Blue Print Ltd.

2025: 30 May Shift 1

Which of the following are the correct statements regarding debentures/debentures interest.

(A) The payment of interest on debentures is a charge on the profits of the company.

(B) Redeemable debentures are those debentures which are payable on the expiry of the specific period.

(C) Debentures cannot be converted into shares.

(D) Perpetual debentures are also known as irredeemable debentures.

Choose the correct answer from the options given below:

2025: 31 May Shift 1

Match List-I with List-II

List-IList-II
(A) Redeemable Debentures(I) The company does not give any undertaking for the repayment of money borrowed by issuing such debentures
(B) Convertible Debentures(II) Which are payable on the expiry of the specific period either in lump sum or in installments during the life time of the company.
(C) Irredeemable Debentures(III) Which are convertible into equity shares or in any other security either at the option of the company or the debenture holders.
(D) Unsecured Debentures(IV) These do not have a specific charge on the assets of the company.

Choose the correct answer from the options given below:

2026: 21 May Shift 2

A company issued Rs. 2,00,000, 9% debentures of Rs. 100 each at a discount of 5% repayable at par. Correct Journal Entry at the time of transfer of debenture application money to debentures account will be:

2026: 21 May Shift 1

Debentures which can be transferred by way of delivery and the company does not keep any record of the debentureholders. Interest on debentures is paid to a person who produces the interest coupon attached to such debentures. Identify the type of debenture being discussed in above statement.

2023: 11 June Shift 3

Interest payable on the Debentures issued for the year ended Mar, 31st 2023 will be :

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