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
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.
Question :
R Ltd. issued 10,000, 12% Debentures of Rs. 100 each at a discount of 5%. Discount on issue of debenture account will be ----------. Debenture account credited by --------
Question : Home Products Ltd. issued on 1st April, 2019,10,000,9% Debentures of Rs. 100 each at a premium of 10% redeemable at a premium of 5% after 5 years. Issue price was payable along with application. Which of the following statements is correct?
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 _____________.
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