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 18,000 debentures. Rs.30 is collected at application stage and Rs.70 upon allotment. At allotment 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 A
11,20,000

At allotment stage, the Bank A/c is debited with

= 18,000 * 70

= Rs. 12,60,000

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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 18,000 debentures. Rs.30 is collected at application stage and Rs.70 upon allotment. At allotment stage, the Bank A/c is debited with what amount?

The correct option is A 11,20,000 At allotment stage, the Bank A/c is debited with = 18,000 * 70 = Rs. 12,60,000

The correct option is A
11,20,000

At allotment stage, the Bank A/c is debited with

= 18,000 * 70

= Rs. 12,60,000