Question : On 1st Nov. 2018, VIVO lLtd. issued 40,000, 10% Debentures of Rs.100 each at a discount of 5%, redeemable at par after four years. The debentures were fully subscribed. It has a balance of Rs.80,000 in Capital Reserve and Rs.1,50,000 in Securities Premium Reserve which the company decided to use for writing off the discount on the issue of debentures.

Question:- Securities premium account will be debited with Rs.________.

Option 1: Rs.1,50,000

Option 2: Rs.1,20,000

Option 3: Rs.80,000

Option 4: Rs.2,00,000

Question : On 1st Nov. 2018, VIVO lLtd. issued 40,000, 10% Debentures of Rs.100 each at a discount of 5%, redeemable at par after four years. The debentures were fully subscribed. It has a balance of Rs.80,000 in Capital Reserve and Rs.1,50,000 in Securities Premium Reserve which the company decided to use for writing off the discount on issue of debentures.

Question:- Statement of profit and loss account will be debited by ________.

Option 1: Rs. 1,50,000

Option 2: Rs. 2,00,000

Option 3: Rs. 1,20,000

Option 4: None of the above 

Question : On 1st Nov. 2018, VIVO lLtd. issued 40,000, 10% Debentures of Rs.100 each at a discount of 5%, redeemable at par after four years. The debentures were fully subscribed. It has a balance of Rs.80,000 in Capital Reserve and Rs.1,50,000 in Securities Premium Reserve which the company decided to use for writing off the discount on issue of debentures.

Question:- Statement of profit and loss account will be debited by ________.

Option 1: Rs. 1,50,000

Option 2: Rs. 2,00,000

Option 3: Rs. 1,20,000

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