Question :

Intel Ltd. issued 10,000, 7% Debentures of  Rs. 100 each at a discount of 10%. It has Securities Premium Reserve of Rs.1,50,000.Discount on Issue of Debentures, i.e.,  Rs. 1,00,000 will be written off by passing the following entry

Option 1: Securities premium account debited by Rs 1,00,000 and credited discount on issue of debentures account 

Option 2: Debited profit and loss account  and credited discount on issue of debenture account by Rs 1,00,000

Option 3: Debited profit and loss adjustment account and credited discount on issue of debenture account 

Option 4: None  of theses 

Question :

Citizen Ltd. issued 10,000, 6% Debentures of  Rs. 100 each at a discount of 10% redeemable at 10% premium. It has Securities Premium Reserve of  Rs. 1,75,000. Loss on Issue of Debentures  Rs. 2,00,000 will be written off by passing the following entry

Option 1: Debited securities premium with Rs 1,75,000 and credited loss on issue of debenture account Rs 1,75,000

Option 2: Debited securities premium reserve account with Rs 1,75,000 and debited surplus in profit and loss account Rs 25,000 and credited loss on issue of debenture account Rs 2,00,000

Option 3: Debited surplus in statement of profit and loss account Rs 2,00,000 and credited loss on issue of debentures account 

Option 4: None of these 

Question :

Dilate Ltd. issued 10,000, 6% Debentures of Rs. 100 each at a discount of Rs. 10. It will credit 6% of Debentures Account by

Option 1:

Rs. 11,00,000

Option 2:

Rs. 10,00,000

Option 3: Rs. 9,00,000

Option 4: Rs. 8,00,000

Question : On 1st April, 2018, RJ. Ltd. issued  Rs. 10,00,000, 9% Debentures of  Rs. 100 each at a discount of 10%. These debentures were redeemable at a premium of 5% after four years. Premium on Redemption of Debentures debited/credited with ______. 

Option 1: Credited with Rs. 20,000

Option 2: Debited with Rs. 50,000

Option 3: Credited with Rs. 50,000

Option 4: None of the above 

Question : On 1st April, 2018, RJ. Ltd. issued  Rs. 10,00,000, 9% Debentures of  Rs. 100 each at a discount of 10%. These debentures were redeemable at a premium of 5% after four years. Premium on Redemption of Debentures debited/credited with ______. 

Option 1: Credited with Rs. 20,000

Option 2: Debited with Rs. 50,000

Option 3: Credited with Rs. 50,000

Option 4: None of the above