Question : Ankita Ltd., an unlisted company, is to redeem 1,00,000 8% Debentures of Rs. 100 each at a premium of Rs. 10. Amount that should be set aside to Debentures Redemption Reserve (DRR) is

 

Option 1: Rs. 5,00,000

Option 2: Rs. 10,00,000

Option 3: Rs. 11,00,000

Option 4:  Nil

Question : Rachna Ltd., a Listed Company, is to redeem 20,000,8% Debentures of Rs. 100 each at a premium of Rs 10 out of profit. The amount that should be set aside for Debentures Redemption Reserve (DRR) is

Option 1: Rs. 5,00,000

Option 2: Rs. 10,00,000

Option 3: Rs. 11,00,000

Option 4: Nil

Question : Vijaya  Bank Ltd. has outstanding 10,000, 5% Debentures of Rs. 100 each redeemable at a premium of Rs. 10 each.These debentures are to be redeemed. Amount that will be set aside out of profits to Debentures Redemption Reserve is

Option 1: Rs. 5,00,000

Option 2: Rs. 12,50,000

Option 3: Rs. 25,00,000

Option 4: Nil

Question : Sun Ltd an unlisted (Non-NBFC or HFC) company, has 20,000, 9% Debentures of Rs. 100 each due for redemption at a premium of 5%. It has a balance of Rs.100,000 in Debentures Redemption Reserve. Sun Ltd. is further required to transfer to Debenture Redemption Reserve _______________.

Option 1: Rs. 1,00,000

Option 2: Rs. 50,000

Option 3: Rs. 20,00,000

Option 4: Rs. 18,00,000

Question : Choose which of the following statements is true.

Option 1: Debentures Redemption Reserve is set aside by all the companies except All India Financial Institutions regulated by RBI and Banking Companies.

Option 2: Amount is set aside to Debentures Redemption Reserve by Unlisted Companies which are not Non-Banking Finance Companies (NBFCs) or Housing Finance Companies (HFCs).

Option 3: Amount is set aside to Debentures Redemption Reserve by all Unlisted Companies.

Option 4: Debentures Redemption Investment is made by the companies required to set aside amount to Debentures Redemption Reserve.

Question : Puran  Store Ltd., an Unlisted Company, is to redeem 5000,8% Debentures of Rs. 100 each on 30th June 2020. It has a balance of Rs. 10,000 in Debentures Redemption Reserve. It decides to set aside the amount to Debentures Redemption Reserve on 31st March 2020 on which date it has

following Reserves and Surplus:   Rs.
Securities Premium Reserve 25,000
Capital reserve Rs 20,000
General Reserve 30,000; and
Surplus, i.e., Balance in Statement of Profit and Loss 30,000
Balance Rs. 40,000 can be set aside to Debentures Redemption Reserve from:

Option 1: Capital Reserve and General Reserve

Option 2:  Capital Reserve and Securities Premium Reserve

Option 3: General Reserve and Surplus, i.e., Balance in Statement of Profit and Loss

Option 4: Securities Premium Reserve and Surplus, i.e., Balance in Statement of Profit and Loss