The amount paid as premium for an insurance policy taken for redemption of debentures is credited at the end of the accounting period to:

Related MCQs

• The balance sheet of the debentures sinking fund after redemption of debentures is credited at the end of the accounting period to:
• If 500 shares of 10 issued at a premium of 1 on which 9 (including premium) have been called and 7 including premium have been paid are forfeited, the forfeiture account should be credited by :
• The Principal amount of debentures will be repaid by the company either at the end of a specified period or by instalments during the life time of the company. Such types of debentures are called :
• When forfeited shares (which were originally issued at a discount ) are reused at a premium, the amount of such premium will be credited to
• Madhu Ltd. forfeited 800 shares of `10 each issued at 10% premium to Shyam (` 9 called up) on which he did not pay ` 3 of allotment (including premium) and first call of `2. Out of these, 600 shares were re-issued to Ram as fully paid up for `9 per share. What is to amount to be transferred to capital Reserve?
• In case debentures of Rs. 10,000 are issued at par but payable at a premium of 10% the premium payable will be debited to:
• The debentures whose principal amount is not repayable by the company during its life time, but the payment is made only at the time of Liquidation of the company, such debentures are called :
• A reserve created for redemption of debentures at a future date:
• (i) Salaries as per Income and Expenditure Account Rs.1,500 (ii) Salaries paid in advance in previous year Rs.700 (iii) Salary outstanding at the end of current year Rs.300 (iv) Salary outstanding at the end of previous year Rs.800 From the above information given, the amount of salaries to be shown in Receipts and Payment Account can be valued at
• When stock is valued at cost in one accounting period and at lower of cost and Net realizable value in another accounting period