Accounting for Companies (CBSE Class-12 Accountancy): Questions 11 - 15 of 21

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Question number: 11

» Accounting for Companies » Accounting for Share Capital » Accounting for Share Capital

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Samta Ltd. forfeited 800 equity shares of Rs. 100 each for the non-payment of first call of Rs. 30 per share. The final call of Rs. 20 per share was not yet made. Out of the share 400 were re-issued at the rate of Rs. 105 per share fully paid up.

Pass necessary journal entries in the books of Samta Ltd. for the above transaction.

Question number: 12

» Accounting for Companies » Accounting for Share Capital » Share and Share Capital

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What do you mean by Private placement of shares?

Question number: 13

» Accounting for Companies » Accounting for Debentures » Redemption of Debentures

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State in brief, the SEBI Guidelines regarding Debenture Redemption Reserve.

Question number: 14

» Accounting for Companies » Accounting for Debentures » Debentures

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Raghav Ltd. purchased a running business from Krishna Traders for a sum of Rs. 15, 00, 000 payable 3, 00, 000 by cheque and for the balance issued 9 % debenture of Rs. 100 each at par. The assets and liabilities consisted of the following:

assets and liabilities

shows different assets and liabilities and their amount

Plant & Machinery

4, 00, 000

Building

6, 00, 000

Stock

5, 00, 000

Sundry debtors

3, 00, 000

Sundry creditors

3, 00, 000

Question number: 15

» Accounting for Companies » Accounting for Debentures » Debentures

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Journalise the following transactions in the books of sum ltd.

  1. 100, 12 % debentures of Rs. 100 each issued at a discount of 10 % were converted into 10 % preference shares of Rs. 100 each issued at a premium of 25%. The debentures were converted at the option of the debenture holders before the date of redemption.
  2. 100, 10 % debentures of Rs. 500 each were converted into debentures of Rs. 100 each. The new debentures were issued at a discount of 20%.

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