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Question
Issued 4,000, 12% debentures of ₹ 100 each at a premium of 4%, redeemable at a premium of 10%. In such a case ______.
Options
Loss on Issue will be debited by ₹ 24,000.
Loss on Issue will be debited by ₹ 56,000.
Loss on Issue will be debited by ₹ 40,000.
Premium on Redemption will be credited by ₹ 24,000.
MCQ
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Solution
Issued 4,000, 12% debentures of ₹ 100 each at a premium of 4%, redeemable at a premium of 10%. In such a case loss on issue will be debited by ₹ 40,000.
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