Premium on Redemption of Debenture A/C is -
(A) Personal account
(B) Real account
(C) Nominal account
(D) Suspense account
1 Answers
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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
Receipts and payments Account is a - (A) Personal Account (B) Real Account (C) Nominal Account
Correct option is: (B) Real Account
2 Answers 1 views
Current Account is - (A) Personal Account (B) Real Account (C) Nominal Account (D) None of these
Correct option is: (A) Personal Account
2 Answers 1 views
Realisation Account is - (A) Personal A/C (B) Nominal A/C (C) Real A/C (D) None of these
Correct option is: (B) Nominal A/C
2 Answers 1 views
According to Company Rules 2014, a company will have to create Debenture Redemption Reserve atleast how much percentage of the face
Correct option is: (B) 25 %
2 Answers 1 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
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