At the time of issue, which account is debited at the time of application money being transferred to Debentures Account?

All of these

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Debenture application & allottment account

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Debentures account

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Bank account

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Solution

The correct option is B
Debenture application & allottment account

At the time of issue, the journal entry is -

Debenture Application & Allotment A/c Dr.
To Debentures A/c

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Similar questions

XYZ limited has issued 20,000 debentures of Rs 100 each redeemable after 4 years of which Rs 40 need to be paid at application stage and Rs 60 need to be paid at allotment stage. Let’s say the public has subscribed for 30,000 debentures. If the company decides to refund the excess application money. How much money will be transferred to debenture account?

Q. When the money for application of debentures is received, we will debit account.

Which account is debited at the time of redemption of debentures?

When debentures are issued at premium & redeemed at premium, the loss on issue of debentures account is debited with ___

Which account needs to debited for writing off discount on issue of debentures over the span of debentures?

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At the time of issue, which account is debited at the time of application money being transferred to Debentures Account?

The correct option is B Debenture application & allottment account At the time of issue, the journal entry is - Debenture Application & Allotment A/c Dr. To Debentures A/c

The correct option is B
Debenture application & allottment account

At the time of issue, the journal entry is -

Debenture Application & Allotment A/c Dr.
To Debentures A/c