Question : Narain Ltd. invited applications for issuing 7,500, 12% Debentures of Rs.100 each at a premium of Rs.35 per debenture. The full amount was payable on application. Applications were received for 10,000 debentures. Applications for 2,500 debentures were rejected and the application money was refunded. Debentures were allotted to the remaining applicants.
Bank account will be credited by _____________.
Option 1: Rs 3,37,500
Option 2: Rs 6,00,000
Option 3: Rs 4,00,000
Option 4: None of the above .
Correct Answer: Rs 3,37,500
Solution : Answer = Rs 3,37,500
Deb Application and allotment A/c Dr. 3,37,500
To Bank A/c (2500 x 135) 3,37,500 Hence, the correct option is 1.
Question : Narain Ltd. invited applications for issuing 7,500, 12% Debentures of Rs.100 each at a premium of Rs.35 per debenture. The full amount was payable on application. Applications were received for 10,000 debentures. Applications for 2,500 debentures were rejected and the
Question : Y Ltd. invited applications for issuing 500, 12% debentures of Rs.100 each at a discount of 5%. These debentures were redeemable after three years at par. Applications for 600 debentures were received. Pro-rata allotment was made to all the applicants assuming that the
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