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

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 : Pilot Pens Ltd. issued 5,000, 6% Debentures of Rs. 100 each at a discount of 20%. It had balance in Securities Premium Reserve of Rs. 60,000 and Rs. 10,000 in Surplus, i.e., Balance in Statement of Profit and Loss. Profit for the year before writing off the balance of Discount on the Issue of Debentures is Rs.20,000. Balance shown in the statement of profit and loss will be 

Option 1: Rs 1,00,000

Option 2: Rs 10,000

Option 3: Rs 20,000

Option 4: Rs 30,000

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 : 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