AfterBoards Logo
Skip to main contentSkip to solution

CUET Accountancy 2023 PYQs11 June Shift 3. Free, no login required.

Company Accounts

past year questions, CUET Accountancy 2023 11 June Shift 3

Debentures

past year questions, Company Accounts, CUET Accountancy 2023 11 June Shift 3

Medium

Redemption of Debenture can be done by many ways. Identify the wrong option.

Solution

✅ Correct Option: 2

Valid methods of redemption of debentures are: payment in lumpsum, payment in instalments, purchase in open market, and conversion into shares or new debentures. Redemption by giving tangible assets is NOT a recognised method of debenture redemption.

Related questions:

2023: 28 May Shift 1

AB&Co. purchased assets worth Rs. 28,80,000 from vendor. It issued debentures of Rs. 100 each at a discount of 4% in full satisfaction of the purchase consideration. The number of debentures issued to vendor is :

2026: 24 May Shift 1

Depending upon the terms and conditions of issue and redemption of debentures, which of the following situation is not found in practice?

2026: 29 May Shift 2

A company took a loan of Rs. 10,00,000 from Punjab National Bank and issued 10% debentures of Rs. 12,00,000 of Rs. 100 each as a collateral security. What will be the journal entry to record this?

2026: 13 May Shift 1

Observe the below given Journal Entry :-

DateParticularsDr. ₹Cr. ₹
Debenture Application & Allotment A/c Dr.4,70,000
Loss on Issue of Debenture A/c Dr.70,000
To 8 % Debenture A/c5,00,000
To Premium on Redemption of Debenture A/c40,000

Debentures are :-

2025: 13 May Shift 2

The following journal entry appears in the books of X Co. Ltd.

Bank A/c Dr. 4,75,000

Loss on issue of debenture A/c Dr. 75,000

To 12% Debentures A/c 5,00,000

To Premium on Redemption of Debenture A/c 50,000

Debentures have been issued at a discount of:

2025: 14 May Shift 1

Match List-I with List-II

List-IList-II
(A) Secured Debentures(I) Which are payable on the expiry of the specific period either in lump sum or in instalments during the life time of the company.
(B) Unsecured Debentures(II) Debentures where a charge is created on the assets of the company for the purpose of payment in case of default.
(C) Redeemable Debentures(III) These debentures are repayable on the winding-up of a company or on the expiry of a long period.
(D) Irredeemable Debentures(IV) Debentures do not have a specific charge on the assets of the company.

Choose the correct answer from the options given below:

Keyboard Shortcuts

  • Left arrow: Previous question
  • Right arrow: Next question
  • S key: Jump to solution
  • Q key: Jump to question

CUET Accountancy Past Year Questions (Topic-Wise)