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…..
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?