When debentures of .Rs 1,00, 000 are issued as Collateral Security against a loan of .Rs 1,50,00 , the entry for issue of debentures will be:A. Credit Cebentures .Rs 1,50,000 and debit bank A/c.Rs 1,50,000B. Debit Debenture Suspense A/c .Rs 1,00,000 and Credit Bank A/c .Rs 1,00,000C. Debit debenture Suspense A/c .Rs 1,00,000 and Credit Debentures A/c .Rs 1,00,000D. Debit Cash A/c .Rs 1,50,000 and Credit Bank A/c .Rs 1,50,000

When debentures of .Rs 1,00, 000 are issued as Collateral Security aga

1.	When debentures of .Rs 1,00, 000 are issued as Collateral Security against a loan of .Rs 1,50,00 , the entry for issue of debentures will be:A. Credit Cebentures .Rs 1,50,000 and debit bank A/c.Rs 1,50,000B. Debit Debenture Suspense A/c .Rs 1,00,000 and Credit Bank A/c .Rs 1,00,000C. Debit debenture Suspense A/c .Rs 1,00,000 and Credit Debentures A/c .Rs 1,00,000D. Debit Cash A/c .Rs 1,50,000 and Credit Bank A/c .Rs 1,50,000
Answer» Correct Answer - C

Discussion

No Comment Found

Related InterviewSolutions

Which of the following is not a characteristic of Bearer Debentures ?A. They are treated as negotiable instruments.B. Their transfer requires a deed of transfer.C. They are transferable by mere delievery.D. The interest on it is paid to the holder irrespective of identify.
When debentures of .Rs 1,00, 000 are issued as Collateral Security against a loan of .Rs 1,50,00 , the entry for issue of debentures will be:A. Credit Cebentures .Rs 1,50,000 and debit bank A/c.Rs 1,50,000B. Debit Debenture Suspense A/c .Rs 1,00,000 and Credit Bank A/c .Rs 1,00,000C. Debit debenture Suspense A/c .Rs 1,00,000 and Credit Debentures A/c .Rs 1,00,000D. Debit Cash A/c .Rs 1,50,000 and Credit Bank A/c .Rs 1,50,000
Sunrise Ltd purchased a building for .Rs 5,00,000 payable as 15 % in cash and balance by allotment of 9% debentures of .Rs 100 each at a premiumof 25 % Number of debentures issued will be :A. `4,250`B. `4,000`C. `5,000`D. `3,400`
Debentures issued as collateral security will be debited to :A. Bank AccountB. Debentures Suspense AccountC. Debentures AccountD. Bank Loan Account
Interest payable on debentures is :A. an appropriation of profits of the companyB. a charge against profits of the companyC. transferred to sinking fund investment accountD. transferred to general reserve
Debenture holders are :A. Owners of the CompanyB. Debtors of the CompanyC. Creditors of the CompanyD. Promoters of the Company
A debenture holder in entitled to :A. Fixed dividendB. Share in profitsC. Voting rights in the companyD. Interest at the fixed rate
Interest on debentures issued as a collateral security is paid on :A. Nominal value of debenturesB. No interest is paidC. Face value of debenturesD. Paid up value of debentures
On issue of debentures as a collateral security, which account is credicted ?A. Debentures AccountB. Bank Loan AccountC. Debentures Holding AccountD. Debenture Suspense Account
Debenture Application Account is in the nature ofA. RealAccountB. Personal AccountC. Nominal AccountD. None of the Above

Discussion

No Comment Found

Related InterviewSolutions

Reply to Comment