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Question : KTR Ltd., issued 365, 9% Debentures of Rs. 1,000 each on 4th March, 2016 at 6% discount, redeemable at 5% premium. Loss on issue of Debentures debited/credited with _____________.

Option 1: Loss on issue of debentures account debited with Rs.36,500

Option 2: Loss on issue of debentures credited with Rs.41,150
 

Option 3: Loss on issue of Debentures debited with Rs. 41,150
 

Option 4: Loss on issue of debentures debited with Rs. 40,150
 


Team Careers360 20th Jan, 2024
Answer (1)
Team Careers360 23rd Jan, 2024

Correct Answer: Loss on issue of debentures debited with Rs. 40,150


Solution : Answer = Loss on issue of debentures debited with Rs. 40,150

Loss on issue of debentures =  Rs. 21,900 (Rs. 3,65,000 X 6%)
= Rs. 18,250 (Rs. 3,65,000X 5%)
Total   = Rs. 40,150

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