Debentures Quiz

Debentures Quiz

12th Grade

10 Qs

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Debentures Quiz

Debentures Quiz

Assessment

Quiz

Business

12th Grade

Practice Problem

Hard

Created by

prakasha acharya

Used 1+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the journal entry when debentures are issued at par and the full amount is collected in the application stage?

Bank a/c dr 100

Bank a/c dr 95

Deb application & allotment a/c Dr 100

Deb allotment a/c Dr 100

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If debentures are issued at a discount and the full amount is collected in the application stage, what is the discount amount for Rs 100 debentures issued at a discount of 5%?

Rs 10

Rs 15

Rs 20

Rs 5

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When debentures are issued at a premium, what is the journal entry for the application stage if the full amount is collected?

Bank a/c dr 105

Deb application & allotment a/c Dr 100

Deb allotment a/c Dr 105

Bank a/c dr 100

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In the case of debentures issued at a discount, what is the entry for the allotment stage if Rs 30 is collected on application and the balance is collected on allotment?

Deb application & allotment a/c Dr 30

Deb application a/c Dr 30

Bank a/c Dr 30

Deb allotment a/c Dr 65

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the total amount collected in the application stage for 20,000 debentures of Rs 100 each issued at a discount of 4%?

Rs 1,000,000

Rs 600,000

Rs 1,200,000

Rs 800,000

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If a company issues 5,000 debentures at a premium of 20%, what is the total amount payable on application if Rs 50 is collected?

Rs 250,000

Rs 1,500,000

Rs 500,000

Rs 1,000,000

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the journal entry for writing off the discount on issue of debentures?

Deb allotment a/c Dr

Deb application a/c Dr

Securities premium a/c Dr

Bank a/c Dr

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