Home
Class 12
ACCOUNTS
Premium on Redemption of Debentures Acco...

Premium on Redemption of Debentures Account is :

A

Personal Account

B

Real Account

C

Nominal Account

D

All of the Above

Text Solution

Verified by Experts

The correct Answer is:
A
Promotional Banner

Topper's Solved these Questions

  • Financial Statements of Not-for-Profit Organisations

    DK GOEL|Exercise Multiple Choice Questions|36 Videos

  • REDEMPTION OF DEBENTURES

    DK GOEL|Exercise MCQ|6 Videos

Similar Questions

Explore conceptually related problems

On 1st April, 2015, Mathew Ltd. Issued 10,000, 9% Debentures of ₹ 100 each at a discount of 5%, redeemable at a premium of 5%. These debentures were redeemable as follows: {:("On31st March, 2016",,,,"2,000 Debentures,"),("On31st March, 2017",,,,"3,000 Debentures,"),("On31st March, 2018",,,,"3,000 Debentures,"):} prepare the Loss Issue of Debentures Account, Debentures Account and Premium on Redemption of Debentures Account for the three years.

Under which main head and sub-head of Equity and Liabilities are the following items shown in a company's Balance Sheet as per Schedule III? (i) Debentures, (ii) Public Deposits, (iii) Securities Premium Reserve, (iv) Capital Reserve, (v) Forfeited Shares Account, (vi) Interset Accured and due on Debentures, (vii) Bills Payable, (viii) Advances Received from Customers, (ix) Sundry Creditors, and (x) Premium on Redemption of Debentures.

Pass necessary Journal entries for the issue and redemption of Debentures in the following cases: (i) 15,000 , 10% Debentures of Rs. 100 each issued at 10% premium, repayable at par. (ii) 60,000, 12% Debentures of Rs. 100 each issued at 5% premium, repayable at 10% premium.

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

    Text Solution

    |

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

    Text Solution

    |

  3. Debentures of a Company can be issued :

    Text Solution

    |

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

    Text Solution

    |

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

    Text Solution

    |

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

    Text Solution

    |

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

    Text Solution

    |

  8. Loss on Issue of Debentures is written off :

    Text Solution

    |

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

    Text Solution

    |

  10. Premium on Redemption of Debentures Account is :

    Text Solution

    |

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

    Text Solution

    |

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

    Text Solution

    |

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

    Text Solution

    |

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

    Text Solution

    |

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

    Text Solution

    |

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

    Text Solution

    |

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

    Text Solution

    |

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

    Text Solution

    |

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

    Text Solution

    |

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

    Text Solution

    |