Accounting for Companies-Accounting for Debentures (CBSE Class-12 Accountancy): Questions 1 - 5 of 8

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Question number: 1

» Accounting for Companies » Accounting for Debentures » Debentures

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Deepak Ltd. purchased furniture Rs. 2, 20, 000 from M/s Furniture Mart. 50 % of the amount was paid to Furniture Mart by accepting a bill of exchange and for the balance the company issue 9 % debentures of Rs. 100 each at a premium of 10 % in favour of Furniture Mart. Pass necessary journal entries in the books of Deepak Ltd. for the above transactions.

Question number: 2

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

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Rs. 12, 00, 000, 8 % debentures were converted into equity shares of Rs. 100 each issued at a premium of Rs. 25 per share and the balance by converting them into 8 % preference shares of Rs. 100 each issued at a discount of Rs. 10 per shares.

Dhyey Ltd. redeemed Rs. 30, 00, 000, 8 % debentures issued at a premium of 5 % as follows:

Pass the Journal entries.

Question number: 3

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

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ABC Ltd. redeemed 2000, 8 % debentures of Rs. 100 each which were issued at a discount of 5 % by converting them into equity shares Rs. 10 each issued at a premium of 25 % Journalise.

Question number: 4

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

One Liner Question▾

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

Question number: 5

» 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

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