Matching Type MCQs of Issue of Debentures Accountancy Class 12 CBSE

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Looking for important Matching Type MCQs of Issue of debentures chapter of accountancy class 12 CBSE Board.

Matching Type Multiple Choice Questions of Issue of Debentures chapter of class 12 Accountancy CBSE Board

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Match the following

i)Cash received against DebenturesA)Issue of Debentures as collateral security
ii)Assets received against DebenturesB)Issue of Debentures for cash
iii)Debentures given as secondary securityC)Issue of Debentures in Kind

Options

a) i) – A, ii – B, iii – C
b) i) – B, ii – C, iii – A
c) i) – C, ii – A, iii – B

Ans – b)

Match the following:

i)Loss on issue of Debenture is a A)Personal Account
ii)Premium on Redemption of Debentures Account is a B)Real Account
C)Nominal Account

Options

a) i – C, ii – A
b) i – A, ii – B
c) i – B, ii – C
d) i – A, ii – C

Ans – a)

Match the following:

i)Debentures Suspense accountA)Loss on Issue of Debentures Account
ii)Debentures are issued at a discount and redeemable at a premiumB)Issue of Debentures as Collateral security
C)Premium on Redemption A/c

Options

a) i – A, ii – B
b) i – B, ii – A
c) i – C, ii – B
d) i – B, ii – C

Ans – b)

Match the following:

i)The company issued 5,000, 8% Debentures of ₹100 each at 5% premium and redeemable at 10% premium. Calculate Interest.A)₹50,000
ii)The company issued 5,000, 8% Debentures of ₹100 each at 5% premium and redeemable at 10% premium. Calculate loss on Issue of Debentures.B)₹75,000
C)₹40,000
D)₹46,000

Options

a) i – A, ii – B
b) i – B, ii – C
c) i – C, ii – D
d) i – C, ii – A

Ans – d)

Match the following:

i)A company issued 2,000, 9% Debentures @ ₹100 at 4% Premium and Repayable at 5% Premium. Calculate the loss on issue of Debentures.A)₹18,000
ii)A company issued 2,000, 9% Debentures @ ₹100 at 4% Discount and Repayable at 5% Premium. Calculate the loss on issue of DebenturesB)₹10,000
C)₹2,000
D)₹8,000

Options

a) i – A, ii – B
b) i – B, ii – C
c) i – B, ii – A
d) i – C, ii – D

Ans – c)

Match the following:

i)A company issued 20,000, 8% Debentures @ ₹100 at 5% Premium and Repayable at 10% Premium. Calculate the amount received on the issue of debentures.A)₹23,00,000
ii)A Company issued 20,000, 8% Debentures @ ₹100 at 5% Discount and Repayable at 10% premium. Calculate amount received on issue of debenturesB)₹19,00,000
C)₹21,00,000
D)₹17,00,000

Options

a) i – A, ii – B
b) i – B, ii – C
c) i – C, ii – D
d) i – C, ii – B

Ans – d)

Match the following:

i)Debentures redeemable either in Lump Sum or InstallmentsA)Convertible Debentures
ii)Debentures transferable by mere deliveryB)Bearer Debentrues
C)Registered Debentures
D)Redeemable Debentures

Options

a) i – A, ii – B
b) i – D, ii – B
c) i – B, ii – C
d) i – D, ii – A

Ans – b)

Match the following:

i)A Company purchased Sundry Assets of ₹10,00,000 and Liabilities of 50,000 from another company for a purchase consideration of 12,00,000. Amount transfer to Vendor Account will be:A)8,50,000
ii)A Company purchased Sundry Assets of ₹10,00,000 and Liabilities of 50,000 from another company for purchase consideration of ₹8,50,000. Amount transfer to Vendor Account will be:B)₹2,50,000
C)₹12,00,000
D)₹1,00,000

Options

a) i – A, ii – B
b) i – B, ii – C
c) i – C, ii – A
d) i – D, ii – B

Ans – c)

Match the following:

i)Excess of purchase consideration over Value of Net assetsA)Capital Reserve
ii)Excess of net assets over purchase considerationB)General Reserve
C)Goodwill
D)Vendor’s Account

Options

a) i – A, ii – B
b) i – B, ii – C
c) i – C, ii – D
d) i – C, ii – A

Ans – d)

Match the following:

i)A Company purchased a Building of ₹40,00,000 for a purchase consideration of ₹45,00,000, ₹5,00,000 will be transferred to:A)General Reserve
ii)A Company purchased building ₹40,00,000 for a purchase consideration of ₹36,00,000, ₹4,00,000 will be transferred to:B)Vendor’s A/c
C)Goodwill Account
D)Capital Reserve Account

Options

a) i – A, ii – B
b) i – C, ii – D
c) i – B, ii – C
d) i – D, ii – A

Ans – b)

Match the following:

i)A company purchased Sundry Assets of ₹20,00,000 and Liabilities of 2,00,000 from another company for a purchase consideration of 22,00,000. Amount of Goodwill will be:A)₹2,00,000
ii)A company purchased Sundry Assets of ₹20,00,000 and Liabilities of 2,00,000 from another company for a purchase consideration of ₹15,00,000. Amount of Capital Reserve will be:B)₹4,00,000
C)₹7,00,000
D)₹3,00,000

Options

a) i – A, ii – B
b) i – B, ii – C
c) i – B, ii – D
d) i – C, ii – A

Ans – c)

Match the following:

i)X Ltd. took over the assets of ₹11,00,000 and liabilities of ₹1,10,000 payable by the issue of 8% debentures of ₹100 each at a 10% discount. Calculate the amount of discount on the issue of debentures.A)₹90,000
ii)Y Ltd. took over the assets of ₹11,00,000 and liabilities of ₹1,10,000 payable by the issue of 8% debentures of ₹100 each at 10% premium. Calculate the amount of securities premium Reserve.B)₹1,00,00
C)₹1,20,000
D)₹1,10,000

Options

a) i – A, ii – B
b) i – B, ii – C
c) i – D, ii – A
d) i – C, ii – B

Ans – c)

Match the following:

i)A Ltd. took over the assets of ₹11,00,000 and liabilities of ₹1,10,000 payable by the issue of 8% debentures of ₹100 each at 10% discount and repayable at 5% premium. Calculate the amount of loss on the issue of debentures.A)₹1,35,000
ii)B Ltd took over the assets of ₹11,00,000 and liabilities of ₹1,10,000 payable by issue of 8% debentures of ₹100 each at 10% premium and repayable at 5% premium. Calculate amount of loss on issue of debenturesB)₹1,65,000
C)₹45,000
D)₹90,000

Options

a) i – A, ii – B
b) i – B, ii – C
c) i – C, ii – D
d) i – D, ii – A

Ans – b)

Match the following:

i)A company issued 5,000, 12% Debentures of ₹100 each at a 5% discount, and repayable at a 10% premium. Interest on debentures is payable half yearly. TDS payable is 10%. Calculate interest on debentures for 6 months.A)₹27,000
ii)A company issued 5,000, 12% debentures of ₹100 each at a 5% discount, and repayable at a 10% premium. Interest on debentures is payable half yearly. TDS payable is 10%. Calculate TDS payable for 12 monthsB)₹30,000
C)₹6,000
D)₹3,000

Options

a) i – A, ii – B
b) i – B, ii – C
c) i – C, ii – D
d) i – D, ii – A

Ans – b)

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Anurag Pathak

Anurag Pathak is an academic teacher. He has been teaching Accountancy and Economics for CBSE students for the last 18 years. In his guidance, thousands of students have secured good marks in their board exams and legacy is still going on. You can subscribe his youtube channel and can download the Android & ios app for free lectures.

Articles: 2015

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