Question : From which account, expenses on issue of shares will be first written off from :
Option 1: Statement of Profit and Loss Account
Option 2: Miscellaneous Expenditure Account
Option 3: Share Issue Expense Account
Option 4: Securities Premium Reserve Account
Answer (1)
12th Jan, 2024
Correct Answer: Securities Premium Reserve Account
Solution : Expenses on the issue of shares will be first written off from the securities premium account then, the Statement of Profit and Loss account.
Hence the correct answer is option 4.
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