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On Ist April 2007, Sunrise Limited issue...

On Ist April 2007, Sunrise Limited issued 5,000, 8 % debentures of .Rs 100 each at a discount of 5% . What will be the total amount of interest for the year ending 31st March 2008?

A

`.Rs 38,000`

B

`Rs 42,000`

C

`. Rs 40,000`

D

`. Rs 25,000`

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The correct Answer is:
C
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On 1st April, 2017, Solar Power Ltd. Issud 10,00, 8% Debentures of ₹ 100 each at a discount of of 5% redeemable at a premium of 15% at the end of five years. All the debentures were subscribed and allotment was made. The company had balance in Securities Premium Reserve of ₹80,000. Prepare the Balance Sheet (extract) as at 31st March, 2018.

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