Redemption Of Debentures CBSE Questions & Answers
Redemption Of Debentures
This is Accountancy Class 12 Redemption of Debentures CBSE Questions & Answers. There are 15 questions in this test with each question having around four answer choices.
Questions & Answers
1
Naman limited redeemed 1,000, 15 percent debentures of Rs.100 each by converting them into equity shares of Rs.10 each at a premium of Rs.2.50 per share. The company also redeemed 500 debentures by utilizing Rs.50, 000 out of profit. What amount of profit to be transferred DRR
- ARs.25000
- BRs.10000
- CRs.30000
- DRs.50000Correct
2
X Ltd. Redeemed its 10,000 10% Debentures of ` 10 each at par on 31 st March, 2011By what amount form Statement of Profit and Loss should be debited
- ARs.10000
- BRs.20000
- CRs.50000Correct
- DRs.100000
3
X Ltd. Redeemed its 10,000 10 percent Debentures of Rs.10 each at par on 31 st March, 2011. What should be the journal entry for passing Deb. Red. Reserve A/c closed by transfer to General Reserve
- A

- B

- CCorrect

- D

4
Z Ltd. Redeemed its 1,00,000 10 percent Debentures of Rs.10 each at 5 percent premium on 31st March, 2011Amount to be paid to debenture holder
- ARs.900000
- BRs.1050000Correct
- CRs.1000000
- DRs.115000
5
Rajesh Export Ltd. has 2,000, 9 percent Debentures of Rs.100 each due on redemption on 31st March 2011. Debentures redemption reserve has a balance of Rs.30,000 on that date. the profit transfer to DRR A/c at the time of redemption of debentures
- ARs.30000
- BRs.20000
- CRs.17000
- DRs.70000Correct
6
Rajesh Export Ltd. has 2,000, 9 percent Debentures of Rs.100 each due on redemption on 31st March 2011. Debentures redemption reserve has a balance of Rs.30,000 on that date Deb. Red Resource A/c closed by transfer to General Reserve a/c amounting Rs.
- ARs.30000
- BRs.15000
- CRs.200000
- DRs.100000Correct
7
S Ltd. redeemed its Rs.10,000, 8 percent Debentures out of capital by drawing a Lot on 30 Nov.2011 Journal entry when amount due to Debenture holder
- A

- BCorrect

- C

- D

8
Y Ltd. redeemed its Rs.20,000, 9 percent debentures out of profit by drawing of lot on 30th Nov. 2011 the Profit transferred to DRR A/c
- ARs.20000Correct
- BRs.25000
- CRs.15000
- DRs.10000
9
2000, 8 percent Debenture Rs.100 each issued at par redeemable at 5 percent premium were converted into equity share of Rs.10 each at par. Number of Equity shares to be issued
- ARs.21000Correct
- BRs.19000
- CRs.20000
- DRs.10000
10
2000, 8 percent Debenture Rs.100 each issued at par redeemable at 5 percent premium were converted into equity share of Rs.10 each at par What should be journal entry when the conversion of 2,000, 8 percent Debentures in 21,000 equity share of Rs.10 issued at par
- A

- BCorrect

- C

- D

11
L Ltd. redeemed 4,000 9 percent Debentures of Rs.100 each which were issued at par by converting them into 10 percent Preference Share of Rs. 10 each issued at a premium of 25 percent Number of Preference shares to be issued
- ARs.32000Correct
- BRs.25000
- CRs.40000
- DRs.10000
12
The issue and redemption of Debentures in case of 20,000 9 percent Debentures of Rs.200 each issued at 20 percent premium repayable at 30 percent premium. At the time of redemption amount payable to debenture holder be
- ARs.2500000
- BRs.2000000
- CRs.5000000
- DRs.5200000Correct
13
The issue and redemption of Debentures in case of 20,000 9 percent Debentures of Rs.200 each issued at 20 percent premium repayable at 30 percent premium. Calculate premium on redemption of debenture
- ARs.1000000
- BRs. 1200000Correct
- CRs.2000000
- DRs.2500000
14
On 1st April 2010, X Ltd. issued 50,000, 10 percent Debentures of Rs.10 each at 4 percent discount and redeemable at par after 5 year. It offered the debenture holders option to convert their debentures in equity share of Rs.10 each after 31st March, 2012. On 1st April, 2012, 25 percent of debenture holders accepted and exercised their option Discount in issue of Debenture Account should be credited with
- ARs.3000Correct
- BRs.5000
- CRs.10000
- DRs.6000
15
On 1st April 2010, X Ltd. issued 50,000, 10% Debentures of ` 10 each at 4% discount and redeemable at par after 5 year. It offered the debenture holders option to convert their debentures in equity share of ` 10 each after 31st March, 2012. On 1st April, 2012, 25% of debenture holders accepted & exercised their option. What should be the journal entries at the time of conversion of debentures when amount due to debenture holders
- A10% Debentures A/c Dr 125000 To Discount on issue of Deb. A/c 4000 To Statement of P/L 1000 To Debenture holder's A/c 120000
- B10% Debentures A/c Dr 125000 To Discount on issue of Deb. A/c 3000 To Statement of P/L 12000 To Debenture holder's A/c 110000
- C10% Debentures A/c Dr 125000 To Discount on issue of Deb. A/c 3000 To Statement of P/L 2000 To Debenture holder's A/c 120000Correct
- D10% Debentures A/c Dr 125000 To Discount on issue of Deb. A/c 3000 To Statement of P/L 22000 To Debenture holder's A/c 100000