Question : Evian Ltd. has a balance in Provision for Tax Account of Rs. 50,000 and Rs. 75,000 as on 31st March, 2019 and 2020 respectively. It made a provision for tax during the year of Rs. 65,000. The amount of tax paid during the year ______-.

Option 1: Rs 65,000

Option 2: Rs 40,000

Option 3: Rs 25,000

Option 4: None of the above

Question : Raj Kundra Cricket Club was inaugurated on 1st April, 2019. It had the following  Receipts and Payments during the year ended 31st March 2020.

Opening balance of cash Rs 20,000 (overdraft).

Receipts: Admission fees  Rs 20,000, Subscription Rs 1,20,000. Donation for Building Fund Rs 20,000. Sale of old newspaper Rs 1,000. Life membership fees Rs 50,000. Interest on Investment received Rs 2,500.

Payments: Salaries Rs 15,000, Rent paid Rs 25,000, Investment Rs 30,000. Stationery Rs 4,000. Books Rs 5,000.

Amount in Receipts and Payment Account for the year ended 31st March, 2020 __________.

Option 1: Rs 1,74,500

Option 2: Rs 1,34,500

Option 3: Rs 1,14,500

Option 4: Rs 1,01,500

Question : During the year ending on 31st March 2017 — 15%, What should be the minimum investment or deposit by Universal Ltd. to meet the requirement of law, if it realises or increases proportionate investment?

Option 1: On or Before 30th April,2016 and Rs 45,000

Option 2: On or before 30 April 2017 and Rs 75,000

Option 3: On or before 30 April 2020 And Rs 60,000

Option 4: None of the above

Question : On 1st April, 2018 X Ltd. issued 20,000, 10% Debentures of Rs.100 each at a discount of 5% redeemable at a premium of 4% after 5 years. It decided to write off loss on issue of debentures in the year ended 31st March, 2019. It has the following balances :
Capital Reserve Rs.1,00,000 and Securities Premium Reserve Rs.50,000.

Question:-  At the time of writing off loss on issue of debentures, securities premium reserve account will be __________. 

Option 1: Credited by Rs. 50,000

Option 2: Debited by Rs. 50,000

Option 3: Debited by Rs. 1,80,000

Option 4: Credited by Rs. 1,80,000

Question : On 1st April, 2018 X Ltd. issued 20,000, 10% Debentures of Rs.100 each at a discount of 5% redeemable at a premium of 4% after 5 years. It decided to write off loss on issue of debentures in the year ended 31st March, 2019. It has the following balances :
Capital Reserve Rs.1,00,000 and Securities Premium Reserve Rs.50,000.

Question:-  At the time of writing off loss on issue of debentures, securities premium reserve account will be __________. 

Option 1: Credited by Rs. 50,000

Option 2: Debited by Rs. 50,000

Option 3: Debited by Rs. 1,80,000

Option 4: Credited by Rs. 1,80,000