Question : Read the following information carefully and answer the question that follow: 

On 1st April, 2019, Sunshine Ltd. issued  Rs. 10,00,000, 15% Debentures of  Rs. 100 each at 8% discount payable:
 Rs. 40 on application, and
The balance on allotment.
These debentures were to be redeemed at a premium of 5% after five years. All the debentures were subscribed for by the public.
Interest on these debentures was to be paid half-yearly which was duly paid by the company.

Question:- Which of the following statements is correct?

 

Option 1: Debentures allotment account will be debited by Rs. 5,20,000

Option 2:  Debentures allotment account will be debited by Rs. 6,00,000

Option 3: Debentures allotment account will be debited by Rs. 5,50,000
 

Option 4: Debentures allotment account will be credited by Rs. 6,00,000
 

Question : Read the following information carefully and answer the question that follow: 

On 1st April, 2019, Sunshine Ltd. issued  Rs. 10,00,000, 15% Debentures of  Rs. 100 each at 8% discount payable:
 Rs. 40 on application, and
The balance on allotment.
These debentures were to be redeemed at a premium of 5% after five years. All the debentures were subscribed for by the public.
Interest on these debentures was to be paid half-yearly which was duly paid by the company.

Question:- Which of the following statements is correct?

Option 1: Debentures allotment account will be debited by Rs. 5,20,000

Option 2:  Debentures allotment account will be debited by Rs. 6,00,000

Option 3: Debentures allotment account will be debited by Rs. 5,50,000
 

Option 4: Debentures allotment account will be credited by Rs. 6,00,000
 

Question : Read the following information carefully and answer the question that follow: 

On 1st April, 2019, Sunshine Ltd. issued  Rs. 10,00,000, 15% Debentures of  Rs. 100 each at 8% discount payable:
 Rs. 40 on application, and
The balance on allotment.
These debentures were to be redeemed at a premium of 5% after five years. All the debentures were subscribed for by the public.
Interest on these debentures was to be paid half-yearly which was duly paid by the company.

Question:- 15% Debentures will be credited with _________.

Option 1: Rs. 4,00,000
 

Option 2: Rs. 6,00,000
 

Option 3: Rs. 9,20,000
 

Option 4: Rs. 10,00,000
 

Question : Read the following information carefully and answer the question that follow: 

On 1st April, 2019, Sunshine Ltd. issued  Rs. 10,00,000, 15% Debentures of  Rs. 100 each at 8% discount payable:
 Rs. 40 on application, and
The balance on allotment.
These debentures were to be redeemed at a premium of 5% after five years. All the debentures were subscribed for by the public.
Interest on these debentures was to be paid half-yearly which was duly paid by the company.

Question:- 15% Debentures will be credited with _________.

Option 1: Rs. 4,00,000
 

Option 2: Rs. 6,00,000
 

Option 3: Rs. 9,20,000
 

Option 4: Rs. 10,00,000
 

Question : Read the following information carefully and answer the question that follow: 

On 1st April, 2019, Sunshine Ltd. issued  Rs. 10,00,000, 15% Debentures of  Rs. 100 each at 8% discount payable:
 Rs. 40 on application, and
The balance on allotment.
These debentures were to be redeemed at a premium of 5% after five years. All the debentures were subscribed for by the public.
Interest on these debentures was to be paid half-yearly which was duly paid by the company.

Question:- Which of the following statements is correct? At the time of writing off Interest on debentures________.

Option 1: Statement of profit and loss account debited by Rs. 75,000

Option 2: Statement of profit and loss account Credited by Rs. 75,000
 

Option 3: Statement of profit and loss account debited by Rs. 1,50,000

Option 4: Statement of profit and loss account debited by Rs. 75,000 
 

Question : Read the following information carefully and answer the question that follow: 

On 1st April, 2019, Sunshine Ltd. issued  Rs. 10,00,000, 15% Debentures of  Rs. 100 each at 8% discount payable:
 Rs. 40 on application, and
The balance on allotment.
These debentures were to be redeemed at a premium of 5% after five years. All the debentures were subscribed for by the public.
Interest on these debentures was to be paid half-yearly which was duly paid by the company.

Question:- Which of the following statements is correct? At the time of writing off Interest on debentures________.

Option 1: Statement of profit and loss account debited by Rs. 75,000

Option 2: Statement of profit and loss account Credited by Rs. 75,000
 

Option 3: Statement of profit and loss account debited by Rs. 1,50,000

Option 4: Statement of profit and loss account debited by Rs. 75,000