CBSE Class 12 Accountancy 2009 Board Question Paper
This is the CBSE Class 12 Accountancy Previous Year Question Paper from 2009, focusing on the topic of Redemption of Debentures. The paper includes questions requiring students to pass necessary journal entries for various scenarios related to the purchase and cancellation of own debentures, as well as debenture redemption at a premium. Questions are categorized by marks, including 2-mark and 3-mark questions, testing practical application of accounting principles. Solving this board question paper helps students understand the exam pattern, identify important concepts within Redemption of Debentures, and refine their problem-solving skills for the upcoming CBSE board examinations.
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Quick info
| Board | CBSE |
|---|---|
| Class | 12 |
| Subject | Accountancy |
| Session | 2009 |
| Language | English |
| Type | Previous Year Question Paper |
| Exam type | Board Exam |
Paper pattern
The paper includes 2 Marks and 3 Marks questions, requiring students to pass necessary journal entries and identify values observed by companies.
Topics covered
Paper topics
- Redemption of Debentures
- Journal Entries
- Own Debentures
- Cancellation of Debentures
- Debenture Redemption Reserve
- Capital Reserve
Important topics
- Journal entries for purchase and cancellation of own debentures
- Redemption of debentures at a premium
- Transfer to Capital Reserve
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Question paper text
Redemption of Debentures
2 Marks Questions
- Pass necessary journal entries for the redemption of debentures in the
following case in the books of Jain Ltd. Purchased for immediate cancellation 930, 12% debentures of Rs 1,000 each at Rs 975 each. (All India 2009) Ans.
JOURNAL
Date Particulars LF Amt (Dr) Amt (Cr)
Own Debentures A/c Dr 9,06,750
To Bank A/c 9,06,750
(Being own debentures purchased) 12% Debentures A/c Dr 9,30,000
To Own Debentures A/c 9,06,750
To Profit on Cancellation of Own Debentures' A/c 23,250
(Being cancellation of own debentures) Profit on Cancellation of own Debentures A/c Dr 23,250
To Capital Reserve A/c 23,250
(Being profit on cancellation transferred to capital reserve account)
- Pass necessary journal entries for the following transactions Purchased 3000,
9% own debentures of Rs 100 each at Rs 97 each for immediate cancellation.(Delhi 2008)
Ans.
JOURNAL
Date Particulars LF Amt (Dr) Amt (Cr)
Own Debentures A/c Dr 2,91,000
To Bank A/c 2,91,000
(Being own debentures purchased) 9% Debentures A/c Dr 3,00,000
To Own Debentures A/c 2,91,000
To Profit on Cancellation of Debentures A/c 9,000
(Being cancellation of own debentures) Profit on Cancellation of Debentures A/c Dr 9,000
To Capital Reserve A/c 9,000
(Being profit on cancellation transferred to capital reserve account)
- Pass necessary journal entries in the books of Rachana Ltd for the following
transactions Purchased 800, 9% own debentures of Rs 100 each for Rs 95 per debenture for redemption. (All India 2008)
Ans.
JOURNAL
Date Particulars LF Amt (Dr) Amt (Cr)
Own Debentures A/c Dr 76,000
To Bank A/c 76,000
(Being own debentures purchased) 9% Debentures A/c Dr 80,000
To Own Debentures A/c 76,000
To Profit on Cancellation of Own Debentures A/c 4,000
(Being cancellation of debentures) Profit on Cancellation of Own Debentures A/c Dr 4,000
To Capital Reserve A/c 4,000
(Being profit on cancellation transferred to capital reserve account)
3 Marks Questions
- Maharana Ltd main business is manufacturing of tyres. The company is very
particular about the observation of the provisions of the Companies Act and SEBI guidelines. On 1st April, 2010 the company issued Rs 18,00,000, 8% debentures of Rs 100 each. The debentures were redeemable at a premium of 5%. On 31st March, 2013, all the debentures were redeemed. Since, the manufacturing of tyres results in air pollution, the company had installed a plant for its effective control. Pass necessary journal entries for the redemption of debentures. Also, identify the value observed by Maharana Ltd. It is assumed that the company has adequate balance in Debenture Redemption Reserve Account. (Compartment 2014)
Frequently asked questions
What is this document?
This is a CBSE Class 12 Accountancy Previous Year Question Paper from 2009, focusing on the topic of Redemption of Debentures.
What is the main topic covered?
The primary topic covered is the accounting treatment for the Redemption of Debentures, including journal entries for purchasing and cancelling own debentures and redemption at a premium.
How does this paper help students?
Solving this previous year question paper helps students understand the CBSE exam pattern, practice specific accounting concepts, and improve their performance in the board examinations.
What types of questions are included?
The paper includes questions requiring the passing of journal entries for various debenture redemption scenarios, categorized by marks (e.g., 2 Marks, 3 Marks).
Is this paper useful for exam preparation?
Yes, this 2009 CBSE Class 12 Accountancy board question paper is highly useful for practicing Redemption of Debentures and preparing effectively for the final exams.
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