List of top Accountancy Questions on Debentures asked in CBSE CLASS XII

VX Ltd. issued 30,000, 8% debentures of ₹ 100 each at a discount of 10% redeemable at a certain rate of premium. On issue of these debentures, ‘Loss on issue of debentures account’ was debited with ₹ 4,50,000. The amount of premium on redemption of debentures was___.

Pass necessary journal entries for issue of debentures for the following transactions:
(i) Kiero Ltd. issued 80,000, 9% debentures of ₹ 100 each at par, redeemable at a premium of 10%.
(ii) Naro Ltd. issued 50,000, 10% debentures of ₹ 100 each at a premium of 5%, redeemable at a premium of 10%.

Sunlock Ltd. purchased assets of book value \u20b9 50,00,000 and took over liabilities of \u20b9 6,00,000 from Moondock Ltd. It paid the purchase consideration by issue of \u20b9 46,00,000, 8% debentures of \u20b9 100 each at a discount of 10%. Record the journal entries in the books of Sunlock Ltd.

Ridyum Limited issued 5,000, 9\% debentures of Rs 500 each at a premium of 10\%. The amount was payable as follows:
On Application - Rs 200 per debenture
On Allotment – Balance (including premium)
The debentures were fully subscribed and all amounts were duly received. Pass the necessary journal entries for issue of debentures in the books of Ridyum Limited.

Mallark Ltd. purchased assets of book value \u20b9 40,00,000 and took over liabilities of \u20b9 5,00,000 from Naroha Ltd. It was agreed that the purchase consideration, \u20b9 36,00,000 be paid by issuing 7% debentures of \u20b9 100 each at a premium of 20%. Record the journal entries in the books of Mallark Ltd. for the above transactions.

Shivalik Ltd. issued 7% debentures of \u20b9 100 each at a discount of 5% on 1st April, 2023. Discount on issue of debentures, \u20b9 1,00,000 was completely written off through Statement of Profit and Loss on 31st March, 2024. On issue of debentures, \u2018Debentures Account\u2019 was credited with ____________________________.

Keya Ltd. issued 2,00,000, 8% debentures of \u20b9 100 each at 10% discount on 1st April, 2023. Interest is payable half-yearly on 30\textsuperscript{th} September and 31st March every year. Interest written off on 31st March, 2024 was:

On 1st April, 2024, Bright Ltd. issued 20,000, 11% debentures of ₹ 100 each at a premium of 10%, redeemable at a premium of 10%. Loss on issue of debentures was:

Romerio Ltd. issued ₹ 80,00,000, 8% debentures of ₹ 100 each on 1st April, 2023 at par, redeemable at a premium of 5%. The company had ₹ 3,00,000 in its Securities Premium Account.
Give journal entries in the books of Romerio Ltd. relating to the: (i) Issue of Debentures
(ii) Debenture interest for the year ending 31st March, 2024 assuming that interest was paid yearly on 31st March.
(iii) Writing off Debenture Interest and Loss on Issue of Debentures.

Shivalik Ltd. issued 7% debentures of ₹ 100 each at a discount of 5% on 1st April, 2023. Discount on issue of debentures, ₹ 1,00,000 was completely written off through Statement of Profit and Loss on 31st March, 2024. On issue of debentures, \textquote{Debentures Account} was credited with __________________.

PQ Ltd. invited applications for issuing 6,000, 11% debentures of ₹ 100 each at a premium of ₹ 10 per debenture. The amount was payable as follows:
On Application – ₹ 30 per debenture
On Allotment – ₹ 80 per debenture (including premium)
The debentures were fully subscribed and all money was duly received. Pass necessary journal entries for the above transactions in the books of PQ Ltd.

EF Ltd. invited applications for issuing 4000, 10% debentures of \u20b9 100 each at a premium of \u20b9 10 per debenture. The amount was payable as follows :
On application \hspace{1.5cm} -- \u20b9 40 per debenture
On allotment \hspace{2cm} -- \u20b9 70 per debenture (including premium) The debentures were fully subscribed and all money was duly received. Pass necessary journal entries for the above transactions in the books of EF Ltd.

Balance of Debenture Redemption Reserve is transferred to which account after the redemption of all debentures?

Moon Ltd. issued 4,000, 10% debentures of ₹ 100 each at a premium of 10% redeemable at par after 5 years.
Pass journal entries in the books of the company for issue of debentures.

Prime Ltd. took over assets of ₹ 6,00,000 and liabilities of ₹ 1,00,000 of Rabi Ltd. for a purchase consideration of ₹ 3,60,000. Prime Ltd. issued 10% debentures of ₹ 100 each at a discount of 10% in full satisfaction of purchase consideration.
Pass necessary journal entries in the books of Prime Ltd.

Delight Ltd. purchased assets worth ₹ 4,00,000 and took over liabilities of ₹ 70,000 of Marvel Ltd. for a purchase consideration of ₹ 3,60,000. Delight Ltd. paid the purchase consideration by issuing 11% debentures of ₹ 100 each at a premium of 20%.
Pass necessary journal entries in the books of Delight Ltd.

On 1st April 2023, Veebee Ltd. issued 20,000, 13% debentures of \( ₹ 100 \) each at a discount of 10% redeemable at a premium of 5% after 4 years. Total amount of interest on debentures for the year ending 31st March, 2024 will be :

Debentures in respect of which all details including names, addresses and particulars of holding of the debenture holders are entered in a register kept by the company are called :

Ajanta Ltd. purchased machinery worth Rs 36,00,000 from Sujata Ltd. Ajanta Ltd. paid half the amount to Sujata Ltd. through a bank draft and the balance by issuing 8\% debentures of Rs 100 each at a discount of 10\%. Pass the necessary journal entries in the books of Ajanta Ltd. for the above transactions.

Apoorv Ltd. acquired building worth Rs 15,50,000, Machinery worth Rs 11,40,000 and Furniture worth Rs 1,10,000 from Dhruv Ltd. and took over its liabilities of Rs 2,00,000 for a purchase consideration of Rs 25,00,000. Apoorv Ltd. paid the purchase consideration by issuing 12\% debentures of Rs 100 each at a premium of 25\%. Pass the necessary journal entries in the books of Apoorv Ltd. for the above transactions.

If the amount of debentures issued is more than the amount of the net assets taken over by a company, the difference will be treated as :