Question : Sun Ltd an unlisted (Non-NBFC or HFC) company, has 20,000, 9% Debentures of Rs. 100 each due for redemption at a premium of 5%. It has a balance of Rs.100,000 in Debentures Redemption Reserve. Sun Ltd. is further required to transfer to Debenture Redemption Reserve _______________.

Option 1: Rs. 1,00,000

Option 2: Rs. 50,000

 

Option 3: Rs. 20,00,000

Option 4: Rs. 18,00,000

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 : Home Products Ltd. issued on 1st April, 2019,10,000,9% Debentures of Rs. 100 each at a premium of 10% redeemable at a premium of 5% after 5 years. Issue price was payable along with application. Which of the following statements is correct? 

Option 1: Loss on issue of debenture account will be debited by Rs. 50,000
 

Option 2: Premium on Redemption of Debentures account credited by Rs. 50,000

Option 3: Premium of Redemption of Debentures  account will be credited by Rs. 1,00,000

Option 4: Securities premium account will be credited by Rs. 1,00,000

Question : Home Products Ltd. issued on 1st April, 2019,10,000,9% Debentures of Rs. 100 each at a premium of 10% redeemable at a premium of 5% after 5 years. Issue price was payable along with application. Which of the following statements is correct? 

Option 1: Loss on issue of debenture account will be debited by Rs. 50,000
 

Option 2: Premium on Redemption of Debentures account credited by Rs. 50,000

Option 3: Premium of Redemption of Debentures  account will be credited by Rs. 1,00,000

Option 4: Securities premium account will be credited by Rs. 1,00,000

Question : Ankita Ltd., an unlisted company, is to redeem 1,00,000 8% Debentures of Rs. 100 each at a premium of Rs. 10. Amount that should be set aside to Debentures Redemption Reserve (DRR) is

Option 1: Rs. 5,00,000

Option 2: Rs. 10,00,000

Option 3: Rs. 11,00,000

Option 4:  Nil

Question : Hindustan Housing Finance Ltd., an unlisted company, has outstanding 20,000, 8% Debentures of Rs. 100 each redeemable at a premium of Rs. 10 each. Out of these, 5,000 debentures are to be redeemed on 31st December, 2020. Debentures Redemption Reserve should be

Option 1: Rs. 1,37,500

Option 2: Rs. 2,50,000

Option 3: Nil

Option 4: Rs. 3,50,000