Question:
Misha Ltd. issued 6,000, 8% Debentures of ₹100 each at ₹96 per debenture. 8% Debentures Account will be credited by:
Misha Ltd. issued 6,000, 8% Debentures of ₹100 each at ₹96 per debenture. 8% Debentures Account will be credited by:
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Always credit the debentures account with the face value, irrespective of the issue price.
Updated On: Jan 27, 2025
- ₹5,76,000
- ₹24,000
- ₹6,00,000
- ₹60,000
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The Correct Option is C
Solution and Explanation
The face value of the debentures is ₹100 each. When issuing 6,000 debentures, the 8% Debentures Account is credited with the total face value. The discount on issue (₹4 per debenture) is recorded separately as a loss.
Calculation:
\[
\text{Total face value} = 6,000 \times ₹100 = ₹6,00,000.
\]
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