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
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.
Question : Loss/Discount or Loss on Issue of Debentures is written off from
Question : Which of the following statements is false?
Question :
Citizen Ltd. issued 10,000, 6% Debentures of Rs. 100 each at a discount of 10% redeemable at 10% premium. It has Securities Premium Reserve of Rs. 1,75,000. Loss on Issue of Debentures Rs. 2,00,000 will be written off by
Question : Securities Premium Reserve can be utilised for the purposes of
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