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CUET Accountancy 2026 PYQs21 May Shift 2. Free, no login required.

Company Accounts

past year questions, CUET Accountancy 2026 21 May Shift 2

Debentures

past year questions, Company Accounts, CUET Accountancy 2026 21 May Shift 2

Medium

common

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:

Solution

✅ Correct Option: 1

Issue price =2,00,000−5%=1,90,000= 2,00,000 - 5\% = 1,90,000, discount =10,000= 10,000. On transfer, Debenture Application and Allotment A/c is debited with the amount collected 1,90,0001,90,000, Discount on Issue is debited with 10,00010,000, and 9% Debentures A/c is credited with the face value 2,00,0002,00,000.

Related questions:

2026: 13 May Shift 1

Match List-I with List-II

List-IList-II
(A) Debentures transferable by mere delivery(I) Zero Coupon Debentures
(B) Debentures where a charge is created on the assets of the company for the purpose of payment in case of default(II) Bearer Debentures
(C) Debentures which are payable on the expiry of the specific period(III) Secured Debentures
(D) Debentures which do not carry a specific rate of interest(IV) Redeemable Debentures

Choose the correct answer from the options given below:

2023: 11 June Shift 3

Determine the number of Debentures to be issued.

2025: 26 May Shift 2

Blue Prints Ltd., purchased 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. Blue Prints Ltd., paid the purchase consideration by issuing 12% debentures of Rs.100 each at a premium of 5%. Number of debentures issued are-

2022: 15 July Shift 2

When the number of Debentures applied for is more than the number of debentures offered to public, the issue is said to be:

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:

2026: 12 May Shift 1

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

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