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Question : On 1st April, 2018, RJ. Ltd. issued  Rs. 10,00,000, 9% Debentures of  Rs. 100 each at a discount of 10%. These debentures were redeemable at a premium of 5% after four years. Premium on Redemption of Debentures debited/credited with ______. 

Option 1: Credited with Rs. 20,000

Option 2: Debited with Rs. 50,000

Option 3: Credited with Rs. 50,000

Option 4: None of the above 


Team Careers360 1st Jan, 2024
Answer (1)
Team Careers360 4th Jan, 2024

Correct Answer: Credited with Rs. 50,000


Solution : Answer = Credited with Rs. 50,000

Premium on Redemption of debenture account will be credited by Rs. 50,000.
Rs. 10,00,000 X 5% = Rs. 50,000.

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