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Joint Stock Accounts : Issue of Debentures

ICSE · Class 12 · Accountancy

Complete topic list for Joint Stock Accounts : Issue of Debentures in ICSE Class 12 Accountancy. Key concepts, sub-topics, and what to focus on for board exams.

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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

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

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 Classification of Debentures - Comprehensive Overview, Complete Debenture Accounting Concept Map, Debentures: Comprehensive Classification. These are the concepts ICSE Class 12 examiners draw on most — study them first, then practise related questions.
How to score full marks in Joint Stock Accounts : Issue of Debentures — ICSE Class 12 Accountancy?
Understand the core concepts first, then work through the 45 practice questions available for this chapter. Revise formulas and 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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