Class XII

XYZ Co. Ltd., issued 10000, 10% debentures of Rs.100 each at a premium of Rs.5 payable as follows On application Rs. 40, on Allotment Rs. 65 (including premium) All the debentures were subscribed and money was received, at the time of allotment Securities premium account is to be credited with…..
  1. Rs.50,000
  2. Rs.65,000
  3. Rs.55,000
  4. Rs.60,000
Interest on debentures will be paid to debenture holders _________
  1. When there is capital reserve
  2. Whether there is profit or loss
  3. When there is profit
  4. When a company is maintaining Reserve
When does a company issue debentures as collateral security
  1. -------------------------------------------------------------------------------- When lender gives additional security
  2. When lender demands additional security
  3. When lender does not demands additional security
  4. When lender does not gives additional security
Debenture Allotment Account is:
  1. Real Account
  2. Nominal Account
  3. Personal Account
  4. None of these
Vinod Limited offered 20,000 debentures @ 100 each at a premium of 10%. The issue was oversubscribed by 3 times. Company made full allotment to 4,000 applicants and pro-rata allotment to the applicants of 36,000 debentures and remaining applications rejected. What amount is to be credited to the Securities premium account?
  1. 3,60,000
  2. 2,00,000
  3. 4,00,000
  4. 40,000
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