Total face value of 5% debentures = 8,00,000.
Premium at 15% = 8,00,000 x 15/100 = 1,20,000.
The entire premium amount of Rs. 1,20,000 is credited to the Securities Premium Reserve A/c.
If 5% debenture of Rs. 8,00,000 of Rs. 100 were issued at 15% premium. Amount is payable as Rs. 25 on applications, Rs. 50 on allotment and Rs. 40 on…
CUET UG 2023 — Accountancy Company Accounts
2023mcqeasy
If 5% debenture of Rs. 8,00,000 of Rs. 100 were issued at 15% premium. Amount is payable as Rs. 25 on applications, Rs. 50 on allotment and Rs. 40 on 1st and final call. How much amount should be credited to "Security Premium Reserve A/c".
Official previous-year question
Held on 28 May 2023 · Verified 13 Jul 2026.
Options
- A
Rs. 1,20,000
- B
Rs. 8,00,000
- C
Rs. 9,20,000
- D
Rs. 1,00,000
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