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Class 12 Accountancy
Issue And Redemption Of Debentures
Quiz 2
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When debentures are issued at par and are redeemable at a premium, the loss on such an issue is debited to :
0%
Profit & Loss A/c
0%
Debenture Application and Allotment A/c
0%
Loss on Issue of Debentures A/c
0%
Premium on Redemption A/c
Explanation
Loss on Issue of Debentures A/c
Own debentures are those debentures of the company which ?
0%
The company allots to its own promotors
0%
The company allots to its directors
0%
The company purchases from the markets and hold them as investments
0%
None of these
Explanation
The company purchases from the markets and hold them as investments
Profit on sale of debentures redemption fund investment in the first instance in credited to :
0%
Debenture Redemption Fund A/c
0%
Profit & Loss Appropriation A/c
0%
General Reserve A/c
0%
Sinking Fund A/c
Explanation
Debenture Redemption Fund A/c
When debentures are issued at a discount and are redeemable at a premium, which of the following accounts is debited at the time of issue ?
0%
Debentures A/c
0%
Premium on Redemption of Debentures A/c
0%
Loss on Issue of Debentures A/c
0%
Profit & Loss A/c
Explanation
Loss on Issue of Debentures A/c
According to SEBI guidelines what percentage of the amount of debentures must be transferred to Debenture Redemption Reserve, before the commencement of redumption of debentures, in case of convertible debentures ?
0%
25%
0%
50%
0%
100%
0%
zero
Explanation
zero
Profit on redemption of debentures in transferred to which account ?
0%
Capital Reserve Account
0%
Sinking Gund Account
0%
General Reserve Account
0%
Profit & Loss Account
Explanation
Capital Reserve Account
Profit on cancellation of own debentures is :
0%
Revenue Profit
0%
Capital Profit
0%
Operating Profit
0%
Trading Profit
Explanation
Capital Profit
6,000 debentures of ₹ 10 each where discharged by issuing equity shares of ₹ 10 each at 20% premium. The number of shares issued will be :
0%
50,000
0%
60,000
0%
5,000
0%
6,000
Explanation
5,000
Every company required to create DRR shall on or before the 30th April of each year, deposit or invest, a sum which shall not be less than…………of the amount of its debentures maturing (to be redeemed) during the year ending on 31st March of the next year.)
0%
10%
0%
15%
0%
25%
0%
50%
Explanation
15%
A Sinking Fund is a part of:
0%
Fixed Liabilities
0%
Current Liabilities
0%
Reserves and Surplus
0%
Fixed Assets
Explanation
Reserves and Surplus
A company issued 1000, 12% debentures of ₹ 100 each at 10% premium. 12% stand for :
0%
Rate of Dividend
0%
Rate of Tax
0%
Rate of Interest
0%
None of these
Explanation
Rate of Interest
BST Ltd. want to redeem its 900, 10% debentures at 105% by converting them into shares of ₹ 10 each at ₹ 9 each. The number of shares to be issued will be :
0%
9,000 Shares
0%
10,500 Shares
0%
10,000 Shares
0%
8,500 Shares
Explanation
10,500 Shares
‘Premium on Redemption of Debentures A/c is in the nature of:
0%
Personal A/c
0%
Real A/c
0%
Nominal A/c
0%
None of these
Explanation
Nominal A/c
Deep Ltd. issue 10,00,000, 7 % debentures of 100 Rs. each at a discount of 4%, redeemable after 5 years at a premium of 6%. Loss issue of debentures is :
0%
₹ 10,00,000
0%
₹ 6,00,000
0%
₹ 16,00,000
0%
₹ 4,00,000
Explanation
₹ 10,00,000
Debenture is a :
0%
Loan certificate
0%
Cash certificate
0%
Credit certificate
0%
None of these
Explanation
Loan certificate
Debenture holders are the :
0%
Customers of the Company
0%
Owners of the Company
0%
Creditors of the Company
0%
None of these
Explanation
Creditors of the Company
In case of issue of debentures as a collateral security for loan from the bank which account will be debited :
0%
Bank Account
0%
Bank Loan Account
0%
Debentures Account
0%
Debentures Suspense Account
Explanation
Debentures Suspense Account
If debentures of ₹ 4,50,000 are issued for the consideration of net assets of ₹ 5,00,000 balance ₹ 50,000 will be credited to:
0%
Profit & Loss A/c
0%
Goodwill A/c
0%
General Reserve A/c
0%
Capital Reserve A/c
Explanation
Capital Reserve A/c
Debentures which are transferred by mere delivery are called:
0%
Registered Debentures
0%
First Debentures
0%
Bearer Debentures
0%
None of these
Explanation
Bearer Debentures
In the Balance Sheet of a Company, Debentures are shown under the head :
0%
Unsecured Loans
0%
Long-term Loans
0%
Current Liabilities
0%
Reserve and Surplus
Explanation
Long-term Loans
0 h : 0 m : 1 s
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