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 : KTR Ltd., issued 365, 9% Debentures of Rs. 1,000 each on 4th March, 2016 at 6% discount, redeemable at 5% premium. Loss on issue of Debentures debited/credited with _____________.

Option 1: Loss on issue of debentures account debited with Rs.36,500

Option 2: Loss on issue of debentures credited with Rs.41,150
 

Option 3: Loss on issue of Debentures debited with Rs. 41,150
 

Option 4: Loss on issue of debentures debited with Rs. 40,150
 

Question : KTR Ltd., issued 365, 9% Debentures of Rs. 1,000 each on 4th March, 2016 at 6% discount, redeemable at 5% premium. Loss on issue of Debentures debited/credited with _____________.

Option 1: Loss on issue of debentures account debited with Rs.36,500

Option 2: Loss on issue of debentures credited with Rs.41,150
 

Option 3: Loss on issue of Debentures debited with Rs. 41,150
 

Option 4: Loss on issue of debentures debited with Rs. 40,150
 

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 : Home Products Ltd. issued on 1st April, 2019, 10,000, 9% Debentures of Rs. 100 each at a premium of 10% redeemable at a premium of 5% after 5 years. Issue price was payable along with application.
Which of the following statements is correct?

Option 1: Loss on issue of debentures account will be debited by Rs. 1,00,000

Option 2: Loss on issue of debentures account credited by Rs. 50,000

Option 3: Loss on issue of debentures  account are to  be written off from securities premium account by Rs. 50,000

Option 4: Premium on Redemption of debentures debited by Rs. 50,000