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Accountancy · 2026 · 4 marks
CBSE 2026 · Region 4 · Set 2 · Q21
On 1st April, 2024, Deendayal Ltd. issued 80,000, 10% Debentures of t 100 each at a premium of 9%, redeemable at par after 6 years. The company…
On 1st April, $\displaystyle 2024$, Deendayal Ltd. issued $\displaystyle 80,000$, $\displaystyle 10$% Debentures of t $\displaystyle 100$ each at a premium of $\displaystyle 9$%, redeemable at par after $\displaystyle 6$ years. The company closes its books on 31st March every year. Pass necessary journal entries in the books of Deendayal Ltd. for issue of debentures, payment of interest on debentures and writing off interest for the year ended 31st March, 2025.
Marking-scheme solution
Books of Deendayal Ltd.
Journal
Date Particulars L Dr. Cr.
F Amount Amount
(₹) (₹)
$\displaystyle 2024$
April $\displaystyle 1$ Bank A/c Dr. $\displaystyle 87,20,000$
To Debenture Application and Allotment A/c $\displaystyle 87,20,000$
(Debenture application money received)
April $\displaystyle 1$ Debenture Application and Allotment A/c Dr. $\displaystyle 87,20,000$
To $\displaystyle 10$% Debentures A/c $\displaystyle 80,00,000$
To Securities Premium A/c $\displaystyle 7,20,000$
(Debenture application money transferred to $\displaystyle 10$ %
Debentures A/c and securities premium account)
$\displaystyle 2025$
March $\displaystyle 31$ Debenture Interest A/c Dr. $\displaystyle 8,00,000$
To Debentureholders’ A/c $\displaystyle 8,00,000$
(Debenture interest due)
March $\displaystyle 31$ Debentureholders’ A/c Dr. $\displaystyle 8,00,000$
To Bank A/c $\displaystyle 8,00,000$
(Debenture interest paid)
March $\displaystyle 31$ Statement of Profit and Loss Dr. $\displaystyle 8,00,000$
To Debenture Interest A/c $\displaystyle 8,00,000$
(Debenture interest written off from profits)
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CBSE Class 12 Accountancy past-paper question from the 2026 board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.