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Cases - Issue of Debentures | Crash Course of Accountancy - Class 12 - Commerce PDF Download

Consideration other than cash:
Q1. X. ltd purchased assets of Rs. 1,80,000 from Y ltd. This amount was discharged by issuing-
a. X. ltd purchased assets of Rs. 2,00,000 and liabilities of Rs. 20,000 from Y ltd. This amount was discharged by issuing.
b. X. ltd purchased assets of Rs. 2,00,000 and liabilities of Rs.10,000 from Y ltd at an agreed value of Rs. 1,80,000. This amount was discharged by issuing.
c. X. ltd purchased assets of Rs.2,00,000 and liabilities of Rs.30,000 from Y ltd at an agreed value of Rs.1,80,000. This amount was discharged by issuing. d. X. ltd purchased assets of Rs.4,00,000 and liabilities of Rs.50,000 from Y ltd at an agreed value of Rs.3,60,000. This amount was discharged by paying 20% by cheque, 30% by accepting a bills of exchange and remaining by issuing-
Cases-
i. 9 % debentures of Rs.100 each.
ii. 9 % debentures of Rs.100 each at a premium of 20%.
iii. 9 % debentures of Rs.100 each at a discount of 10%.
iv. 9 % debentures of Rs.500 each.
v. 9 % debentures of Rs.500 each at a premium of 25%.
vi. 9 % debentures of Rs.500 each at a discount of 20%.
vii. 9 % debentures of Rs.100 each at a premium of 10%.
viii. 9 % debentures of Rs.100 each at a discount of 5%.
ix. 9 % debentures of Rs.100 each at par & repayable at a premium of 10%.
x. 9 % debentures of Rs.100 each at a premium of 20% & repayable at a premium of 10%.
xi. 9 % debentures of Rs.100 each at a discount of 10% & repayable at a premium of 10%.
xii. 9 % debentures of Rs.200 each at par & repayable at a premium of 10%.
xiii. 9 % debentures of Rs.200 each at a premium of 25% & repayable at a premium of 10%.
xiv. 9 % debentures of Rs.200 each at a discount of 20%& repayable at a premium of 10%.
xv. 9 % debentures of Rs.200 each at a premium of 10%& repayable at a premium of 10%.
xvi. 9 % debentures of Rs.200 each at a discount of 5%& repayable at a premium of 10%.
xvii. 9 % debentures of Rs. 1,80,000.
xviii. 9 % debentures of Rs. 1,60,000.
xix. 9 % debentures of Rs. 2,00,000.
xx. 9 % debentures of Rs. 1,80,000 & repayable at a premium of 20%.
xxi. 9 % debentures of Rs. 1,50,000 & repayable at a premium of 20%.
xxii. 9 % debentures of Rs. 2,10,000 & repayable at a premium of 20%.
xxiii. 9 % debentures of Rs.1000 each at par & repayable at 105%.
xxiv. 9 % debentures of Rs.1000 each at 90% & repayable at 110%.
xxv. 9 % debentures of Rs.1000 each at 120% & repayable at 150%.
xxvi. 1,800, 9 % debentures of Rs.100 each.
xxvii. 2,000, 9 % debentures of Rs.100 each at a discount of 10%.
xxviii. 1,440, 9 % debentures of Rs.100 each at a premium of 25%.
xxix. 360, 9 % debentures of Rs.500 each & repayable at a premium of 20%.
xxx. 300, 9 % debentures of Rs.500 each at a premium 20%& repayable at a premium of 20%.
xxxi. 400, 9 % debentures of Rs.500 each at a discount of 20%& repayable at a premium of 20%.

Collateral security:
Q2. A company took a loan of Rs. 10,00,000 from Punjab National Bank and issued 10% debentures of Rs. 12,00,000 of Rs.100 each as a collateral security. Explain how you will deal with the issue of debentures in the books of the company.

Q3. Hassan Limited took a loan of Rs. 30,00,000 from a bank against primary security worth Rs. 40,00,000 and issued 4,000, 6% debentures of Rs. 100 each as a collateral security. The company again after one year took a loan of Rs. 50,00,000 from bank against Plant as primary security and deposited 6,000, 6% debentures of Rs. 100 each as collateral security. Record necessary journal entries and prepare balance sheet of a company.

Q4. Meghnath Limited took a loan of Rs. 1,20,000 from a bank and deposited 1,400, 8% debentures of Rs. 100 each as collateral security along with primary security worth Rs. 2 lakhs. Company again took a loan of Rs. 80,000 after two months from a bank and deposited 1,000, 8% debentures of Rs. 100 each as collateral security. Record necessary journal entries and prepare a balance sheet of a company.

Interest on debentures:
Q5. X ltd. issued 1000, 16% debenture of Rs 100 each on 1st jan 2012. Interest on these debentures is paid half yearly i.e. On 30 June and 31st December. Pass necessary journal entries for the year 2012 assuming income tax is deducted@20% on the amount of interest.
Q6. X ltd. issued 6,000, 12% debentures of Rs.200 each on April 01, 2010 at a discount of 15% redeemable at a premium of 20%. Give journal entries relating to the issue of debentures and debentures interest for the period ending March 31, 2011 assuming that interest is paid half yearly on September 30 and March 31 and tax deducted at source is 20%.

Issue of debentures for CASH:
Q7. Pass journal entries in the following cases:
I. Issue of 1,00,000, 9% debentures of Rs. 100 each and redeemable at par.
II. Issue of 1,00,000, 9% debentures of Rs. 100 each at premium of 5% but redeemable at par.
III. Issue of 1,00,000, 9% debentures of Rs. 100 each at discount of 5% repayable at par.
IV. Issue of 1,00,000, 9% debentures of Rs. 100 each at par but repayable at a premium of 5%.
V. Issue of 1,00,000, 9% debentures of Rs. 100 each at discount of 5% but redeemable at premium of 5%.
VI. Issue of 1,00,000, 9% debentures of Rs. 100 each at premium of 5% and redeemable at premium of 5%.
VII. Issue of 2,00,000, 9% debentures of Rs. 500 each and redeemable at par.
VIII. Issue of 2,00,000, 9% debentures of Rs. 500 each at premium of 5% but redeemable at par.
IX. Issue of 2,00,000, 9% debentures of Rs. 500 each at discount of 5% repayable at par.
X. Issue of 2,00,000, 9% debentures of Rs. 500 each at par but repayable at a premium of 10%.
XI. Issue of 2,00,000, 9% debentures of Rs. 500 each at discount of 15% but redeemable at premium of 10%.
XII. Issue of 2,00,000, 9% debentures of Rs. 500 each at premium of 5% and redeemable at premium of 10%.
XIII. Issue Rs.5,00,000, 9% debentures of Rs. 100 each and redeemable at par.
XIV. Issue Rs. 5,00,000, 9% debentures of Rs. 100 each at premium of 5% but redeemable at par.
XV. Issue Rs. 5,00,000, 9% debentures of Rs. 100 each at discount of 5% repayable at par.
XVI. Issue Rs. 5,00,000, 9% debentures of Rs. 100 each at par but repayable at a premium of 5%.
XVII. Issue Rs. 5,00,000, 9% debentures of Rs. 100 each at discount of 5% but redeemable at premium of 5%.
XVIII. Issue Rs. 5,00,000, 9% debentures of Rs. 100 each at premium of 5% and redeemable at premium of 5%.
XIX. Issue Rs. 4,00,000, 9% debentures of Rs. 500 each and redeemable at par.
XX. Issue Rs. 4,00,000, 9% debentures of Rs. 500 each at premium of 5% but redeemable at par.
XXI. Issue Rs. 4,00,000, 9% debentures of Rs. 500 each at discount of 5% repayable at par.
XXII. Issue Rs. 4,00,000, 9% debentures of Rs. 500 each at par but repayable at a premium of 10%.
XXIII. Issue Rs. 4,00,000, 9% debentures of Rs. 500 each at discount of 15% but redeemable at premium of 10%.
XXIV. Issue Rs. 4,00,000, 9% debentures of Rs. 500 each at premium of 5% and redeemable at premium of 10%.
XXV. Issue of 60,000, 9% debentures of Rs. 100 each @ 100 % and repayable at 100%.
XXVI. Issue of 60,000, 9% debentures of Rs. 100 each @ 90 % and repayable at 100%.
XXVII. Issue of 60,000, 9% debentures of Rs. 100 each @ 110 % and repayable at 100%.
XXVIII. Issue of 60,000, 9% debentures of Rs. 100 each @ 100 % and repayable at 110%.
XXIX. Issue of 60,000, 9% debentures of Rs. 100 each @ 90 % and repayable at 120%.
XXX. Issue of 60,000, 9% debentures of Rs. 100 each @ 105 % and repayable at 108%.
XXXI. Issue of 70,000, 9% debentures of Rs. 200 each @ 100 % and repayable at 100%.
XXXII. Issue of 70,000, 9% debentures of Rs. 200 each @ 90 % and repayable at 100%.
XXXIII. Issue of 70,000, 9% debentures of Rs. 200 each @ 110 % and repayable at 100%.
XXXIV. Issue of 70,000, 9% debentures of Rs. 200 each @ 100 % and repayable at 110%.
XXXV. Issue of 70,000, 9% debentures of Rs. 200 each @ 90 % and repayable at 120%.
XXXVI. Issue of 70,000, 9% debentures of Rs. 200 each @ 105 % and repayable at 108%.
XXXVII. Issue Rs.2,00,000, 9% debentures of Rs. 100 each @ 100 % and repayable at 100%.
XXXVIII. Issue Rs.2,00,000, 9% debentures of Rs. 100 each @ 90 % and repayable at 100%.
XXXIX. Issue Rs.2,00,000, 9% debentures of Rs. 100 each @ 110 % and repayable at 100%.
XL. Issue Rs.2,00,000, 9% debentures of Rs. 100 each @ 100 % and repayable at 110%.
XLI. Issue Rs.2,00,000, 9% debentures of Rs. 100 each @ 140 % and repayable at 120%.
XLII. Issue Rs.2,00,000, 9% debentures of Rs. 100 each @ 90 % and repayable at 105%.
XLIII. Issue Rs.8,00,000, 9% debentures of Rs. 500 each @ 100 % and repayable at 100%.
XLIV. Issue Rs.8,00,000, 9% debentures of Rs. 500 each @ 90 % and repayable at 100%.
XLV. Issue Rs.8,00,000, 9% debentures of Rs. 500 each @ 110 % and repayable at 100%.
XLVI. Issue Rs.8,00,000, 9% debentures of Rs. 500 each @ 100 % and repayable at 110%.
XLVII. Issue Rs.8,00,000, 9% debentures of Rs. 500 each @ 140 % and repayable at 120%.
XLVIII. Issue Rs.800,000, 9% debentures of Rs. 500 each @ 90 % and repayable at 105%.

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FAQs on Cases - Issue of Debentures - Crash Course of Accountancy - Class 12 - Commerce

1. What are debentures in commerce?

Ans. Debentures are long-term debt instruments issued by companies to raise funds from the public. These are similar to bonds, but unlike bonds, debentures are not secured by any specific assets of the company. Instead, debenture holders have the right to claim interest and principal payments from the general funds of the company.

2. How are debentures different from shares?

Ans. Debentures and shares are both ways for companies to raise capital, but they have some key differences. While shares represent ownership in a company, debentures represent debt owed by the company. Shareholders have voting rights and can participate in the company's profits through dividends, whereas debenture holders have no voting rights and receive fixed interest payments.

3. What is the process of issuing debentures?

Ans. The process of issuing debentures involves several steps. First, the company needs to decide the terms of the debentures, such as the interest rate, maturity date, and redemption provisions. Then, the company must obtain necessary approvals from its board of directors and shareholders. After that, the company can approach investors through a public issue or private placement to sell the debentures. The company must also comply with regulatory requirements and file necessary documents with the relevant authorities.

4. What are the risks associated with investing in debentures?

Ans. Investing in debentures carries certain risks. The primary risk is the company's ability to repay the principal and interest on time. If the company faces financial difficulties, it may default on its payment obligations. Another risk is the interest rate risk, where changes in market interest rates can affect the value of the debentures. Additionally, debentures may have liquidity risk, as they are not as easily tradable as shares.

5. How can investors evaluate the creditworthiness of a company issuing debentures?

Ans. Investors can evaluate the creditworthiness of a company issuing debentures by considering various factors. These include the company's financial statements, credit ratings assigned by rating agencies, its track record of servicing debt, and industry analysis. Investors can also assess the company's ability to generate consistent cash flows and its overall business performance. Additionally, analyzing the terms and conditions of the debentures, such as the security offered and the ranking of the debentures, can provide insights into the company's risk profile.

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