Multiple Choice Questions on When debentures of Rs1 00 000 are issued as Collateral Security against a loan of Rs1 50 000 the ent........... for Commerce 12th Preparation

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Multiple Choice Questions

When debentures of Rs1 00 000 are issued as Collateral Security against a loan of Rs1 50 000 the ent...........

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    When debentures of Rs1,00,000 are issued as Collateral Security against a loan of Rs1,50,000, the entry for issue of debentures will be :

    Credit Debentures Rs1,50,000 and debit bank A/c Rs1,50,000

    Incorrect Answer

    Debit Debenture Suspense A/c Rs1,00,000 and Credit Bank A/c Rs1,00,000

    Incorrect Answer

    Debit Debenture Suspense A/c Rs1,00,000 and Credit Debentures A/c Rs1,00,000.

    Correct Answer

    Debit Cash A/c Rs1,50,000 and Credit Bank A/c Rs1,50,000

    Incorrect Answer
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    Explanation:

    Debit Debenture Suspense A/c Rs1,00,000 and Credit Debentures A/c Rs1,00,000.

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