Question : On 1st April, 2019, Moonlight Ltd. issued 1,000, 9% Debentures of  Rs. 200 each at a discount of 5% redeemable after 5 years at a premium of 10%. All the debentures were subscribed and allotment was made. The balance in Securities Premium Reserve is  Rs. 10,000.
At the time of writing off the loss on issue of debentures statement of profit and loss account will be debited/credited with ____________.
 

Option 1: Credited with Rs. 20,000
 

Option 2: Debited with Rs. 30,000

Option 3: Debited with Rs. 20,000

Option 4: Credited with Rs. 30,000
 

Question : On 1st April, 2019, Moonlight Ltd. issued 1,000, 9% Debentures of  Rs. 200 each at a discount of 5% redeemable after 5 years at a premium of 10%. All the debentures were subscribed and allotment was made. The balance in Securities Premium Reserve is  Rs. 10,000.
At the time of writing off the loss on issue of debentures statement of profit and loss account will be debited/credited with ____________.
 

Option 1: Credited with Rs. 20,000
 

Option 2: Debited with Rs. 30,000

Option 3: Debited with Rs. 20,000

Option 4: Credited with Rs. 30,000
 

Question :

Citizen Ltd. issued 10,000, 6% Debentures of  Rs. 100 each at a discount of 10% redeemable at 10% premium. It has Securities Premium Reserve of  Rs. 1,75,000. Loss on Issue of Debentures  Rs. 2,00,000 will be written off by passing the following entry

Option 1: Debited securities premium with Rs 1,75,000 and credited loss on issue of debenture account Rs 1,75,000

Option 2: Debited securities premium reserve account with Rs 1,75,000 and debited surplus in profit and loss account Rs 25,000 and credited loss on issue of debenture account Rs 2,00,000

Option 3: Debited surplus in statement of profit and loss account Rs 2,00,000 and credited loss on issue of debentures account 

Option 4: None of these 

Question :

Intel Ltd. issued 10,000, 7% Debentures of  Rs. 100 each at a discount of 10%. It has Securities Premium Reserve of Rs.1,50,000.Discount on Issue of Debentures, i.e.,  Rs. 1,00,000 will be written off by passing the following entry

Option 1: Securities premium account debited by Rs 1,00,000 and credited discount on issue of debentures account 

Option 2: Debited profit and loss account  and credited discount on issue of debenture account by Rs 1,00,000

Option 3: Debited profit and loss adjustment account and credited discount on issue of debenture account 

Option 4: None  of theses 

Question : On 1st April, 2018, RJ. Ltd. issued  Rs. 10,00,000, 9% Debentures of  Rs. 100 each at a discount of 10%. These debentures were redeemable at a premium of 5% after four years. Premium on Redemption of Debentures debited/credited with ______. 

Option 1: Credited with Rs. 20,000

Option 2: Debited with Rs. 50,000

Option 3: Credited with Rs. 50,000

Option 4: None of the above