AfterBoards Logo
Skip to main contentSkip to solution

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

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

DateParticularL.FDr (₹)Cr (₹)
Bank a/c Dr.4,75,000
Loss on issue of debenture a/c Dr.70,000
To 12% Debentures A/c5,00,000
To Premium on Redemption of Debenture A/c45,000

Debentures issued at discount of ______ and redeemable at a premium of ______.

Solution

✅ Correct Option: 3

Face value is 5,00,0005,00,000 but bank receives 4,75,0004,75,000, so discount =25,000= 25,000, i.e. 25,000/5,00,000=5%25,000/5,00,000 = 5\%. Premium on redemption is 45,00045,000, i.e. 45,000/5,00,000=9%45,000/5,00,000 = 9\%. Check: loss on issue =25,000+45,000=70,000= 25,000 + 45,000 = 70,000, which matches the entry.

Related questions:

2025: 2 June Shift 2

Issue of Rs. 1,00,000, 9% debentures of Rs. 100 each at discount of 15% but redeemable at premium of 5%, the amount debited to loss on issue of debenture account is.

2025: 26 May Shift 2

Match List-I with List-II

List-IList-II
(A) Redeemable Debentures(I) the debentures which can be transferred by way of delivery and the company does not keep any record of the debentures
(B) Convertible Debentures(II) these debentures are issued with a specified rate of interest
(C) Specific Coupon Rate Debentures(III) which are convertible into equity shares or in any other security either at the option of the company or the debentureholders
(D) Bearer Debentures(IV) which are payable on the expiry of the specific period either in lump sum or in instalments during the life time of the company.

Choose the correct answer from the options given below:

2025: 3 June Shift 1

When debentures are issued at par and are redeemable at a premium, the loss on such issue is debited to :

2025: 13 May Shift 1

Which statements are wrong about debentures?

(A) Debenture is a part of owned capital.

(B) The debentures cannot be issued at a discount of more than 10% of the face value.

(C) Debentures cannot be converted into shares.

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

Choose the correct answer from the options given below:

2025: 2 June Shift 2

Debenture suspense is shown in the balance sheet as

2026: 23 May Shift 2

Which of the following is not correct with regard to debentures:

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)