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Issued 4,000 , 12% debentures of .Rs 100...

Issued 4,000 , 12% debentures of .Rs 100 each at a premium of 4%, redeemable at a premium of 10%. In such case:

A

Loss on Issue will be debited by .Rs 24,000

B

Loss on Issue will be debited by .Rs 56,000

C

Loss on Issue will be debited by .Rs 40,000

D

Premium on Redemption will be credited by .Rs 24,000

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The correct Answer is:
C
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DK GOEL-ISSUE OF DEBENTURES-MULTIPLE CHOICE QUESTIONS
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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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