✓ Board-verified
Accountancy · 2023 · 1 mark
Issue and Redemption of DebenturesWriting off Discount/Loss on Issue of Debentures1 markvery short answer
CBSE 2023 · Region 3 · Set 1 · Q4
Sunbeam Ltd. issued $\displaystyle 20,000$, $\displaystyle 11$% debentures of ₹ $\displaystyle 100$ each at a premium of $\displaystyle 10$%, redeemable at a premium of $\displaystyle 5$%. The Loss on Issue of Debentures Account will debited by :ORNargis Ltd. purchased assets of ₹ $\displaystyle 8,00,000$ and took over liabilities of ₹ $\displaystyle 2,00,000$ from Gauri Ltd. The payment was made by issue of $\displaystyle 8$% Debentures of ₹ $\displaystyle 100$ each at a premium of $\displaystyle 20$%. Number of debentures issued will be :
OR
Nargis Ltd. purchased assets of ₹ $\displaystyle 8,00,000$ and took over liabilities of ₹ $\displaystyle 2,00,000$ from Gauri Ltd. The payment was made by issue of $\displaystyle 8$% Debentures of ₹ $\displaystyle 100$ each at a premium of $\displaystyle 20$%. Number of debentures issued will be :Official answer
From CBSE’s own marking scheme for this paper.
(a) → (C)
(b) → (B)
Marking-scheme solution
₹$\displaystyle 1,00,000$
Q. Nargis Ltd. purchased assets of ₹$\displaystyle 8,00,000$…….
Ans. (b) $\displaystyle 5,000$
More from Issue and Redemption of Debentures
- Maharaja Ltd. took over assets of ₹ 15,00,000 and liabilities of ₹ 2,00,000 of Dolphin Ltd. for an agreed…2024
- Debentures which can be transferred by way of delivery and the company does not keep any record of the…2025
- Sinco Ltd. purchased assets of the book value of ₹ 1,98,000 from Dixon Ltd. It was agreed that the purchase…2023
- On 1st April, 2022, Mega Ltd. issued 30,000, 10% Debentures of ₹ 100 each at a discount of 10%. The total…2024
- Satnam Ltd. purchased Building worth ₹ 5,00,000, Plant worth ₹ 4,60,000 and Furniture worth ₹ 2,20,000 from…2022
- Shivalik Ltd. issued 7% debentures of 2 100 each at a discount of 5% on 1st April, 2023. Discount on issue of…2025
- The debentures which do not carry a specific rate of interest are called:2024
- Debentures in respect of which all details including names, addresses and particulars of holding of the…2025
CBSE Class 12 Accountancy past-paper question from the 2023board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.