XYZ Ltd has issued 20,000 debentures at Rs.100 each per debenture for a four-year term. But the public has only subscribed to 16,000 debentures. Rs.40 is collected at application stage and Rs.60 upon allotment. At application stage, the Bank A/c is debited with what amount?

11,20,000

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4,80,000

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4,20,000

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16,00,000

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Solution

The correct option is B
4,80,000

At application stage, the Bank A/c is debited with :

= 16,000 * 40

= Rs. 6,40,000

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XYZ Ltd has issued 20,000 debentures at Rs.100 each per debenture for a four-year term. But the public has only subscribed to 16,000 debentures. Rs.40 is collected at application stage and Rs.60 upon allotment. At application stage, the Bank A/c is debited with what amount?

The correct option is B 4,80,000 At application stage, the Bank A/c is debited with : = 16,000 * 40 = Rs. 6,40,000

The correct option is B
4,80,000

At application stage, the Bank A/c is debited with :

= 16,000 * 40

= Rs. 6,40,000