( 4 ) 6. Name the two sources of finance for redemption of debentures. 2 7. Define Profit & Loss Appropriation A/c. 3 8. Distinguish between Equity Shares and Preference Shares. 3 9. Y Ltd. forfeited 300 shares of ? 10 each, 7 7 called up, for non-payment of first call of ? 2 per share. Out of these, 100 shares were immediately reissued at 7 6 per share. Pass Journal Entries. 3 10. A company purchased an established business for 7 4,00,000 payable ?1,30,000 in cash and the balance by 12% debentures of 100 each at a discount of 10%. Journalize the above transactions in the books of purchasing company. 3 11. Green Ltd. issued 5000, 6% debentures of ? 100 each at a discount of 5% repayable after 5 years at a premium of 5%. You are required to- (a) show the Journal Entries at the time of issue and redemption of debenture. 2+2=4 (b) show the loss on Issue of Debentures A/c over the period. 4
( 4 ) 6. Name the two sources of finance for redemption of debentures. 2 7. Define Profit & Loss Appropriation A/c. 3 8. Distinguish between Equity Shares and Preference Shares. 3 9. Y Ltd. forfeited 300 shares of ? 10 each, 7 7 called up, for non-payment of first call of ? 2 per share. Out of these, 100 shares were immediately reissued at 7 6 per share. Pass Journal Entries. 3 10. A company purchased an established business for 7 4,00,000 payable ?1,30,000 in cash and the balance by 12% debentures of 100 each at a discount of 10%. Journalize the above transactions in the books of purchasing company. 3 11. Green Ltd. issued 5000, 6% debentures of ? 100 each at a discount of 5% repayable after 5 years at a premium of 5%. You are required to- (a) show the Journal Entries at the time of issue and redemption of debenture. 2+2=4 (b) show the loss on Issue of Debentures A/c over the period. 4
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Transcribed Image Text:7:59
O ETE4G E 79%
ACCOUNTANCY
< 4/12 >
( 4 )
6. Name the two sources of finance for redemption of
debentures.
7. Define Profit & Loss Appropriation A/c.
3
8. Distinguish between Equity Shares and Preference
Shares.
9. Y Ltd. forfeited 300 shares of 7 10 each, 7 7 called
up, for non-payment of first call of ? 2 per share. Out
of these, 100 shares were immediately reissued at 7 6
per share.
Pass Journal Entries.
3
10. A company purchased an established business for
7 4,00,000 payable 7 1,30,000 in cash and the
balance by 12% debentures of 100 each at a
discount of 10%.
Journalize the above transactions in the books of
purchasing company.
11. Green Ltd. issued 5000, 6% debentures of F 100
each at a discount of 5% repayable after 5 years at a
premium of 5%. You are required to-
(a) show the Journal Entries at the time of issue
and redemption of debenture.
2+2=4
(b) show the loss on Issue of Debentures A/c over
the period.
4
HS/XII/Com/Ac/17/54
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