Commerce Accountancy · Economics
Journal entries and depreciation are core accountancy topics involving the systematic recording of financial transactions and the calculation of asset value reduction over time. Students must solve problems related to bad debts, provision calculations, and error rectification. These questions are essential for candidates appearing in commerce and accounting competitive exams.
Hariom Industries Ltd. purchased a plant for Rs. 100,000 payable Rs. 37,000 in cash and balance by issue of 10% debentures of Rs. 100 each at a premium of 10%. The vendor will be issued____ debentures.
A company issues $14\%$ debentures of Rs. $10,00,000$ at a discount of $10\%$. The discount allowed will be treated in the account books as.
How many debentures will a company be required to issue for satisfying the purchase considerations of $Rs. 28,80,000$ if the debenture is of $Rs. 80$ and is issued at a premium of $Rs. 10$ per debenture?
X.Ltd. issued Rs$1,00,000$ $12\%$ debentures at a discount of $6\%$ on $1st$ April repayable by five equal annual drawings of Rs$20,000$ each on $31st$ March every year. The amount of discount to be written of each year assuming that the company closes its accounts on financial year basis is-
A Ltd. took over the assets of Rs$6,60,000$ and liabilities of Rs$80,000$ of B Ltd. for an agreed purchase consideration of Rs$6,00,000$ payable $10\%$ in cash and the balance by the issue of $15\%$ Debentures of Rs$100$ each at $10\%$ discount.
The number of debentures to be issued is-
X Ltd issues $500, 15\%$ Debentures of Rs$100$ each on $1st$ May at a discount of $10\%$ redeemable at a premium of $5\%$ after $4$ years. Interest was payable half yearly on $30th$ June and $31st$ December. The amount of interest debited to profit & Loss Account for the year ended $31st$ March is-
X Ltd. has issued $14\%$ Debentures of Rs $20,000$ at a discount of $12\%$ on April $01$ and the company pays interest half-yearly on June $30$, and December $31$ every year. On March $31$ the amount shown as "Interest accrued but not due" in the Balance Sheet will be
F Ltd. purchased Machinery from G Company for a book value of Rs. $4,00,000$. The consideration was paid by issue of $10\%$ debentures of Rs. $100$ each at a discount of $20\%$. The debenture account will be credited by.
T Ltd. has issued $15\%$ Debentures of Rs. $20,00,000$ at a discount of $10\%$ on April $01$, $2004$ and the company pays interest half-yearly on June $30$ and December $31$ every year. On March $31$, $2006$, the amount shown as "interest accrued but not due" in the Balance Sheet will be.
On May $01$, $2005$ U Ltd. issued six per cent, $10,000$ convertible debentures of Rs. $100$ each at a premium of $20\%$ Interest is payable on September $30$ and March $31$ every year. Assuming that the interest runs from the date of issue, the amount of interest expenditure debited to profit and loss account for the year ended March $31$, $2006$, will be.
On May $01$, $2003$, Y Ltd. issued $7\%$ $40,000$ convertible debentures of Rs. $100$ each at a premium of $20\%$. Interest is payable on September $30$ and March $31$, every year. Assuming that the interest runs from the date of issue, the amount of interest expenditure debited to profit and loss account for the year ended March $31$, $2004=?$
T Ltd. purchased land and building from U Ltd. for a book value of Rs. $3,00,000$. The consideration was paid by issue of $12\%$ Debentures of Rs. $100$ each at a discount of $20\%$. The debentures account is credited with.
G Ltd purchased land and building from H Ltd. at a book value of Rs. 2,00,000. The consideration was paid by issue of 12% debentures of Rs. 100 each at a discount of 20%. For this transaction, the debentures account would be credited with -
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