List of top Accountancy Questions on Company Accounts asked in CBSE CLASS XII

Universal Ltd. took over machinery of ₹ 3,30,000, furniture of ₹ 1,60,000 and liabilities of ₹ 80,000 from Amol Ltd. for a purchase consideration of ₹ 4,50,000. The payment to Amol Ltd. was made by issue of 10% Debentures of ₹ 50 each at a discount of 10%. The number of debentures issued to Amol Ltd. was:
Reserve capital is that portion of the ______________ capital that can be called only in the event of winding up of the company.
The debentures which do not carry a specific rate of interest are known as:
On 1st April, 2024, EE Ltd. issued 3,000, 9% Debentures of ₹ 50 each at a premium of 5%, redeemable at a premium of ₹ 10 per debenture after five years. Interest on the debentures was to be paid on half-yearly basis on 30th September and 31st March. Interest on debentures for the year ended 31st March, 2025 will be:
Nori Ltd. issued 20,000, 11% debentures of ₹ 100 each at a premium of 10%, redeemable at a premium of 5%. Loss on issue of debentures account will be debited by :
Under which major head and sub-heads (if any) will the following items be presented in the Balance Sheet of a company as per Schedule III, Part I of the Companies Act, 2013? (i) Demand deposits with banks
(ii) Long-term loans
(iii) Livestock
Pass necessary journal entries for issue of debentures for the following transactions: (i) AS Ltd. issued 60,000, 9% Debentures of ₹ 100 each at a premium of 10%, redeemable at a premium of 5%. (ii) WS Ltd. issued 30,000, 9% Debentures of ₹ 100 each at par, redeemable at a premium of 10%.
Kiara Ltd. purchased assets worth ₹ 12,40,000 and took over liabilities of ₹ 3,40,000 of Amrex Ltd. for a purchase consideration of ₹ 11,00,000. Kiara Ltd. paid half the amount by cheque. The balance amount was settled by issuing 9% debentures of ₹ 100 each at a premium of 10%.
Pass necessary journal entries for the above transactions in the books of Kiara Ltd.
On 1st April, 2024, Zara Ltd. issued 8,000, 9% Debentures of ₹ 100 each at a discount of 10%. The company had a balance of ₹ 50,000 in the Securities Premium Account on the same date.
Pass necessary journal entries for the issue of debentures and to write off discount on issue of debentures.