Ts Grewal Vol. Ii Solutions for Class commerce Accountancy Chapter 18 Issue Of Debentures are provided here with simple step-by-step explanations. Debenture is a written acknowledgement of debt taken by the company. Issue of debentures is very much similar to issue of shares. Rose Bond Limited purchased a business for Rs. 22,00, Purchase Price was paid by 6% debentures. Debentures of Rs. 20,00, were.
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All questions and answers from the Ts Grewal Vol.
Ii Book of class commerce Accountancy Chapter 18 are provided here for you for free. All Ts Grewal Vol. Applications were received for all the debentures along with the issue of debentures class 12 money did allotment was made.
When the charge is fixed, the company can only deal with the property subject to the charge, that is, a fixed charge allows the company to retain possession of the assets but prevents the company from selling, leasing etc.
NCERT Class XII Accountancy II: Chapter 2 – Issue and Redemption of Debentures | AglaSem Schools
The property identified remains so identified during the period for which the charge issue of debentures class 12 created. A floating charge is generally in respect of movables, that is, properties which are constantly changing.
It does not amount to mortgage of property. A charge on the stock-in-trade from time to time of a business is a floating charge. When an item is sold out of the stock, the charge ceases to attach to it and the buyer cannot be asked to pay the debt.
When a new item is added to it the charge automatically attaches to it without further new agreement. So the property is certainly identified at issue of debentures class 12 time of creation of charge; its very identification goes on changing and the final identification is at the point of time when the charge crystallizes or becomes fixed after which the company can mortgage or sell that property subject the charge.
Chapter 18 from Textbook Ts Grewal Vol. 2 for Class 12 ACCOUNTANCY
The charge will continue to issue of debentures class 12 only so long as the item remains unsold. When debentures are issued without any charge or security, they are termed as unsecured or naked debentures. Holders of unsecured debentures are ordinary unsecured creditors and do not enjoy any special rights.
Tenure Point of View Redeemable Debentures: Such debentures are redeemable at par or premium after the expiry of a particular period or under a system of periodical drawings.
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Debentures may be made irredeemable or in other words perpetual. Such debentures are redeemable either on the happening of a contingency or when the company is wound up or when the company decides to redeem.
Debentures may be convertible into equity or preference shares of the company on certain issue of debentures class 12 or during certain periods on the basis of an agreement between company and debenture holders.
When the full amount of debentures is converted into shares of the company at agreed terms and conditions. The conversion is to be made at or after 18 months from the date of allotment but before 36 months. Issue of debentures class 12 only a part of the amount of debentures is convertible into shares at a specified time and remaining part of debenture is redeemable on agreed terms.
Such debentures are not convertible into equity or preference shares.