Debentures: Class 12 Previous Year Questions

Debentures questions asked in CBSE board exams

Repeated questions first. Open the free app to see each question as it appeared in the paper, with its marking scheme.

1. On 1st April, 2024, Dina Ltd. issued 8,000, 9% debentures of 100 each at a discount of 6%. The total amount of interest due on debentures for the year ended 31st March, 2025 will be : 48,000 (B) (A) 72,000 (C) R 1,20,000 (D) R 80,000
   Board 20261 markMCQRepeated: 2025,2026
2. 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 3ist March, 2024 will be : (A) 2,00,000 (B) 2,60,000 (C) 1,00,…
   Board 20251 markMCQRepeated: 2025,2026
3. Pass necessary journal entries for the issue of debentures in the following cases : (i) Issued 75,00,000, 9% debentures of 100 each at a premium of 10% redeemable at a premium of 5% after 3 years. (ii) Issued 8,000, 9% debentures of 100 each at a discount of 6…
   Board 20236 markscase-basedRepeated: 2022,2023
4. Pass journal entries for issue of debentures for the following transactions : (i) Issued 3,000, 11% debentures of 100 each at par, redeemable at 5% premium. (ii) Issued 4,000, 12% debentures of 100 each at 5% premium, redeemable at 10% premium. Page 15 of 24 (…
   Board 20221 markvery shortRepeated: 2022,2023
5. (a) If 600 shares of 10 each, issued at a premium of 1 per share are forfeited on which 8 per share (including premium) have been called and 6 per share (including premium) have been paid, then ·ShareForfeiture Account'will be by. credited, 3,000 (B) (A) debit…
   Board 20261 markMCQ
6. (a) Raunak Cotton Ltd. purchased machinery of 6,80,000 from Heavy Machines Ltd. The Payment to Heavy Machines Ltd. was made by issuing 10,500 equity shares of 50 each at a premium of 20% and the balance through a cheque. Pass necessary journal entries for the …
   Board 20263 marksshort answer
7. On 1st April, 2024Bhumika Ltd.issued 500, 9% debentures of 500 each at a discount of 10% redeemable at a premium of 6% after five years. On 31st March, 2025 the company had a balance of 30,000 in its Securities Premium Account. Pass necessary journal entries f…
   Board 20264 marksshort answer
8. Xiom Ltd. issued 30,000, 12% debentures of 100 each at a certain rate of discount, redeemable at 10% premium after three years. Balance in Securities Premium Account before issuing these debentures was 5,00,000 and after writing off loss on issue of debentures…
   Board 20261 markMCQ
9. Bishan Ltd. acquired assets worth 12,60,000 and took over liabilities of 2,40,000 of Nimi Ltd.for a purchase consideration of 9,40,000.Bishan Ltd. issued 12% debentures of 100 each at a discount of 6% in favour of Nimi Ltd. for payment of purchase consideratio…
   Board 20261 markMCQ
10. On 1st April, 2024 Vinar Ltd. issued 5,00,000, 9% debentures of 100 each at 10% discount. Interest is payable half yearly on 30th September and 3ist March every year. The amount of interest written off on 31st March, 2025 was : (A) (B) ? 50,000 25,000 (C) (D) …
    Board 20261 markMCQ
11. (a) Delight Ltd. purchased assets worth 4,00,000 and took over liabilities of 70,o00 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…
    Board 20253 marksshort answer
12. 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%. (i) Naro Ltd. issued 50,000, 10% debentures of 100 each at a premium of 5%, …
    Board 20254 marksshort answer
13. (a) Apoorv Ltd. acquired building worth 15,50,000, Machinery worth #1l,40,000andFurnitureworth1,10,000fromDhruvLtd.and took'over its liabilities of 2,00,000 for a purchase consideration of 25,00,000. Apoory Ltd. paid the purchase consideration by issuing i2%'d…
    Board 20253 marksshort answer
14. (C)Purchase Consideration (D) General Reserve 14. (a) The following journal entry appears in the books of Latvion Ltd. : Dr. Cr. Date Particulars Amount () Amount () Bank A/c Dr. 4,75,000 Loss on issue of debentures A/c .. .. Dr. 75,000 To 12% Debentures A/c 5…
    Board 20251 markMCQ
15. (a) Debentures on which a company does not give any undertaking for the repayment of money borrowed are called : (A· (B) BearerDebentures Secured Debentures (D) Registered Debentures (C· Perpetual Debentures OR (b) If the amount of debentures issued is more th…
    Board 20251 markMCQ
16. (a) 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 : (A)Bearer debentures (B) Redeemable debentures (C)Registered debentures (D)…
    Board 20251 markMCQ
17. (i) I : G$UnÌm| Ho$ {ZJ dm©h hmoJm & II : {dH«o$VmAm| H$mo _erZar H«$` Ho$ ~Xbo G$UnÌm| Ho$ {ZJ©_Z H$m n[aUm_ dm©h hmoJm & {ZåZ{b{IV _| go ghr {dH$ën H$m M`Z H$s{OE : 1 (A) XmoZm| H$WZ ghr h¢ & (B) XmoZm| H$WZ µJbV h¢ & (C) H$WZ I ghr h¡ VWm H$WZ II µJbV h¡ & …
    Board 20241 markMCQ
18. Pass necessary journal entries for the following transactions relating to the issue of debentures : 6 (a) Gagan Limited issued < 10,00,000, 9% Debentures of < 100 each at a premium of 5%, redeemable at par after four years. (b) KS Limited issued < 10,00,000, 1…
    Board 20236 markslong answer
19. Elite Ltd. issued 20,000, 9% Debentures of 100 each at a discount of 10%, redeemable at a premium. On issue of these debentures, ·Loss on issue of debentures account' was debited with 4,00,000. The premium on redemption of debentures is : R 4,00,000 (b) (a) R …
    Board 20231 markMCQ
20. (a) Sinco Ltd. purchased assets of the book value of 1,98,000 from Dixon Ltd. It was agreed that the purchase consideration be paid by issuing 10% debentures of 100 each. Record the necessary journal entries in the books of Sinco Ltd. assuming that the debentu…
    Board 20233 marksshort answer

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