List I | List II | ||
A. | Revaluation Reserve | I. | Share Capital |
B. | Issued Capital | II. | Other Non current Assets |
C. | Discount on issue of debentures | III. | Inventories |
D. | Loose tool | IV. | Reserve and Surplus |
The following journal entry appears in the books of X Co. Ltd.
\[\text{Bank A/c Dr. 4,75,000} \\ \text{Loss on Issue of Debentures A/c Dr. 75,000} \\ \text{To 12\% Debentures A/c 5,00,000} \\ \text{To Premium on Redemption of Debenture A/c 50,000} \]
In this case, the debentures have been issued at a discount of 5%. What is the rate of premium on redemption of debentures?