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 whole amount was payable with application.
Question:- When application money is received, Bank Account will be debited by ________.
Option 1: Rs. 60,000
Option 2: Rs. 57,500
Option 3: Rs. 57,000
Option 4: Rs. 58,500
Correct Answer: Rs. 57,000
Solution : Answer = Rs. 57,000
Application money received Rs. 57,000 (Rs. 600 X 95). Hence, the correct option is 3.
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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