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Joint Stock Accounts : Issue of Debentures — Syllabus

ICSE · Class 12 · Accountancy

What Joint Stock Accounts : Issue of Debentures covers in ICSE Class 12 Accountancy: 4 topics, for the 2026-27 session.

45 questions37 flashcards5 formulas & key relations5 concepts

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An illustration showing a company issuing a debenture certificate to an investor, highlighting it as an acknowledgement of debt, with key terms like 'interest rate', 'repayment period', and 'company s
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4 Topics · ICSE Class 12 Accountancy · 2026-27

Topics in Joint Stock Accounts : Issue of Debentures

1

Meaning, Nature, and Basic Features

  • A debenture is an instrument issued by a company under its common seal, acknowledging debt and promising repayment of principal with interest.
  • Debentures are loan capital and not part of ownership capital.
  • Debentureholders are creditors of the company, not owners.
2

Types and Classification of Debentures

  • From transfer point of view: registered debentures and bearer debentures.
  • From security point of view: secured or mortgaged debentures and unsecured or simple or naked debentures.
  • From redemption point of view: redeemable debentures and irredeemable debentures.
3

Issue of Debentures: Price and Redemption Terms

  • Debentures may be issued at par, at premium, or at discount.
  • Debentures may be redeemable at par or at premium.
  • Debentures cannot be redeemed at discount under the company’s own redemption terms.
4

Journal Entries for Issue of Debentures for Cash

  • The accounting procedure for issue of debentures is similar to issue of shares, with Debenture Account replacing Share Capital Account.
  • Representative personal accounts used are Debenture Application Account, Debenture Allotment Account, and Debenture Call Account.
  • If excess application money exists and the question is silent, it is refunded and not carried forward to Calls-in-Advance Account.

Key Concepts

Central concept: Issue of Debentures in Joint Stock Company Accounts

DebentureDebentureholderShareholderTypes of DebenturesIssue of DebenturesPremium, Discount and Redemption TermsSecurities Premium Reserve AccountDiscount on Issue of Debentures Account

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Frequently Asked Questions

What are the important topics in Joint Stock Accounts : Issue of Debentures for ICSE Class 12 Accountancy?
Key topics in Joint Stock Accounts : Issue of Debentures include Meaning, Nature, and Basic Features, Types and Classification of Debentures, Issue of Debentures: Price and Redemption Terms, Journal Entries for Issue of Debentures for Cash. Study these first, then practise questions on each for the ICSE Class 12 board exam.
How should I revise Joint Stock Accounts : Issue of Debentures for the ICSE Class 12 board exam?
Learn the core ideas first, then work through the 45 practice questions on Joint Stock Accounts : Issue of Debentures. Revise definitions regularly and use flashcards for quick recall before the exam.

Sources & Official References

Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.

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