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CBSE Class 12 Accountancy Company Accounts Worksheet Set C

This document contains an assignment on company accounts regarding debentures for Class XII Accountancy students. It includes 10 questions covering topics such as the definition of debentures, the differences between shares and debentures and shareholders and debenture holders, types of debentures like secured and convertible debentures, the meaning of charge on assets, fixed and floating charges, journal entries for issue and redemption of debentures, the nature of accounts related to debentures and where they are shown in the balance sheet, whether debenture interest is a charge on profits or an appropriation of profits, and how to show debentures issued as collateral security in the balance sheet.

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Jenneil Carmichael
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1K views2 pages

CBSE Class 12 Accountancy Company Accounts Worksheet Set C

This document contains an assignment on company accounts regarding debentures for Class XII Accountancy students. It includes 10 questions covering topics such as the definition of debentures, the differences between shares and debentures and shareholders and debenture holders, types of debentures like secured and convertible debentures, the meaning of charge on assets, fixed and floating charges, journal entries for issue and redemption of debentures, the nature of accounts related to debentures and where they are shown in the balance sheet, whether debenture interest is a charge on profits or an appropriation of profits, and how to show debentures issued as collateral security in the balance sheet.

Uploaded by

Jenneil Carmichael
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
  • Assignment Questions
  • Journal Entries and Analysis

BAL BHARATI PUBLIC SCHOOL

Ganga Ram Hospital Marg, New Delhi-60

CLASS –XII SUBJECT – ACCOUNTANCY


ASSIGNMENT- 8 TOPIC – COMPANY ACCOUNTS
(DEBENTURES)

Q1 Define debentures.

Q2 Give five differences between

(i) Shares & Debentures


(ii) Shareholders & Debentureholders

Q3 Explain the following types of debentures

(i) Secured debentuuures


(ii) Convertible debentures
(iii) Registered debentures
(iv) Bearer debentures
(v) Zero coupon rate debentures

Q4 What does the expression ‘Charge on asset’ mean?

Q5 What is meant by Fixed charge/specific charge ; floating charge; issue of debentures as


collateral security.

Q6 Z Ltd took over the following assets & liabilities of Usha co. Ltd.:

Assets:Machinery 100000 ; Furniture 180000 ; Stock 20000.

Liabilities: creditors – 80000

The purchase price was agreed at Rs 108000. This is to be settled by the issue of 12%
debentures of Rs 100 each:

a) Issued at par
b) Issued at 20% premium
c) Issued at 10% discount
Q7 Pass the necessary journal entries for the issue & redemption of debentures in the
following cases:

(a) 10000, 10% debentures of Rs 120 each issued at 5% premium, repayable at par.
(b) 20000, 9% debentures of Rs 200 each issued at 20% premium repayable at 30%
premium.
(c) Rs 7000000, 12% debentures of Rs 100 each issued at a premium of 5% redeemable
at 110%.
(d) A 10% debenture issued at 90 redeemable at 105.

Q8 What is the nature of the following accounts & under what head are they shown in the
Balance Sheet.

(i) Premium on redemption of debentures


(ii) Loss on issue of debentures account
(iii) Interest accrued & due/ Interest outstanding
(iv) Interest accrued & not due/Accrued interest

Q 9 Is denture interest a ‘ charge on profits’ or ‘an appropriation of profits’? Give reason.

Q 10 A Ltd issued 5000 ,9% debentures of Rs 100 each at par & also raised a loan of Rs 80000
from bank, collaterally secured by Rs 100000, 9% debentures. How will you show the
debentures in the balance sheet of the co.assuming

(i) Co. has not recorded the issue of debentures as collateral in the books.
(ii) Co. has recorded the issue of debentures as collateral in the books

X-----------------------------------X------------------------------X-------------------X

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