Debentures can not be redeemed at :-
(A) Premium
(B) Discount
(C) Par
(D) None of these
1 Answers
Annual Insurance Premium ₹ 8,000 is paid on 1st Dec 2018. Calculate the amount of Insurance Premium for the accounting year ending
Annual Insurance Premium for 12 months = ₹ 8,000 Less: Prepaid for 8 months = ₹ 5,333 Insurance for 4 months (01.12.18 to 31.03.19) = ₹ 2,667
2 Answers 7 views
When all debentures are redeemed, the balance in the Debenture Redemption Fund A/C is transferred to ?
Correct option is: (A) Capital Reserve
2 Answers 1 views
Global ltd. issued 10,000, 8% Debentures of ₹ 100 each redeemable in four equal instalments by draw of lots from the end of 3 years at a premium of
Correct Answer - Dr. Statement of Profit and Loss and Cr. Loss on Issue of Debentures A/c by ₹ 90,000.
2 Answers 1 views
On 1st April, 2015, Mathew Ltd. Issued 10,000, 9% Debentures of ₹ 100 each at a discount of 5%, redeemable at a premium of 5%. These debentures were
Correct Answer - (i) year ended 31st March, 2016: Loss on issue of Debentues - ₹ 1,00,000 to be written off from Statement of Profit and Loss in the year...
2 Answers 24 views
Sugandh Ltd. issued 60,000 shares of Rs. 10 each at a premium of Rs. Per share payable as Rs. 3 on application, Rs. 5 (including premium) on allotment
Correct Answer - Amount received on allotment-Rs. 2,05,800.
2 Answers 7 views
Black Stone Ltd. issued 10,000 Equity Shares of Rs. 10 each at a premium of Rs. 3 per share payable Rs. 5 on application, Rs. 5 (including premium) on
Correct Answer - Forfeited Shares A/c-Rs. 1,000.
2 Answers 1 views
A share of Rs. 100 issued at a premium of Rs. 10 on which Rs. 80 (including premium ) was called and Rs. 60 (including premium) was paid, has been for
Correct Answer - Capital Reserve-Rs. 20.
2 Answers 1 views
Amrit Ltd. issued 50,000 shares of Rs. 10 each at a premium of Rs. 2 per share payable as Rs. 3 on application, Rs. 4 on allotment (including premium)
Correct Answer - Allotment money not paid by Sonu-Rs. 2,000; First call not paid by Sonu-Rs. 1,600; Capital Reserve-Rs. 3,600.
2 Answers 1 views
Trade discount is calculated after cash discount while calculating discount on purchase or sales.
Trade discount is calculated before cash discount while calculating discount on purchase or sales.
2 Answers 1 views
If Anil bought a Rs. 150 share at a premium of Rs 20 while Raju brought the same kind of share at a discount of Rs. 20 of the same company, then the d
Correct Answer - equal to
2 Answers 5 views