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Debentures issued as collateral security...

Debentures issued as collateral security will be debited to :

A

Bank Account

B

Debentures Suspense Account

C

Debentures Account

D

Bank Loan Account

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The correct Answer is:
B
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During the year ended 31st March, 2019, Anderson Ltd. Issued 12% Debentures of ₹ 100 each, as per the details given below: (a) 900 Debentures issued as collateral security to a bank against a losnb of ₹ 60,000. (b) The underwriters were to be paicd a commission of ₹ 48,000. 25 % of the amount was paid to them in cash and the balance was paid by the issue of Debentures at a discount of 10% to be redeemed at par. A machine was purchased for ₹ 2, 18, 500. The vendor was paid by the issue of Debentures at a premium of 15% to be redeemed ar par. 5,000 Debetures ware issued to the pubic at 5% premium , to be redeemed at premium of 5% The company wrote off all capital losses arising from the issue of Debentures at the end of the year from its capital profits and if need be from its revenue profits. You are required to Journalise the above transctions in the books of Anderson Ltd.

Hyatt Ltd. Took loan of ₹ 8,00,00 from State Bank of India and issued 10,000, 9% Debentures of ₹ 100 each as collateral security. How will issure of debentures be shown in the Balance Sheet: (i) When Journal entry is not passed, and (ii) When Journal entry is passed?

DK GOEL-ISSUE OF DEBENTURES-MULTIPLE CHOICE QUESTIONS
  1. A' Limited purchased the assets from 'B' Limited for .Rs 5,40,000 . 'A...

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  2. A' Limited purchased the assets from 'B' Limited for .Rs 8,10,000. 'A'...

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  3. Debentures of a Company can be issued :

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  4. On issue of debentures as a collateral security, which account is cre...

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  5. Debentures issued as collateral security will be debited to :

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  6. When debentures of .Rs 1,00,000 are issued as Collateral Security agai...

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  7. Interest on debentures issued as a collateral security is paid on :

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  8. Loss on Issue of Debentures is written off :

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  9. When debentures are to be redeemed at premium an extra entry has to be...

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  10. Premium on Redemption of Debentures Account is :

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  11. X Ltd. acquired assets of .Rs 20 lakhs and took over creditors of .Rs ...

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  12. X Ltd. Purchased a building for .Rs 60,00,000 payable as 20 % in Cash...

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  13. Sunrise Ltd purchased a building for .Rs 5,00,000 payable as 15 % in c...

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  14. If Vendors are issued debentures of .Rs 80,000 in consideration of net...

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  15. If Vendors are issued debentures of .Rs 4,40,000 in consideration of a...

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  16. A Ltd. Issued 1,000, 10% debentures of .Rs 100 each at a premium of 5...

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  17. On Ist April 2007, Sunrise Limited issued 5,000, 8 % debentures of .Rs...

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  18. Globe Ltd. Issues 20,000, 9 % debentures of . Rs 100 each at a discou...

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  19. Issued 5,000, 12% debentures of .Rs 100 each at a discount of 2 %, red...

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  20. Issued 4,000 , 12% debentures of .Rs 100 each at a premium of 4%, rede...

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