Shubh Limited has the following balances appearing in its Balance Sheet: `{:("Securities Premium Reserve",,Rs.,"22,00,000"),("9% Debentures",,Rs.,"1,2

Question

Shubh Limited has the following balances appearing in its Balance Sheet: `{:("Securities Premium Reserve",,Rs.,"22,00,000"),("9% Debentures",,Rs.,"1,2

Shubh Limited has the following balances appearing in its Balance Sheet:
`{:("Securities Premium Reserve",,Rs.,"22,00,000"),("9% Debentures",,Rs.,"1,20,00,000"),("Underwriting Commission",,Rs.,"10,00,000"):}`
The company decided to redeem its 9% Debentures at a premium of 10%. You are required to suggest the ways in which the company can utilise the securities premium amount.

Monjur Alahi

5 views

2025-01-04 04:42

1 Answers

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Salim Ahmed Kawsar · Accepted Answer · 2023-02-05T15:29:48+06:00

Salim Ahmed Kawsar

(i) Utilise Rs. 10,00,000 to write off Underwriting Commission.
(ii) Utilise balance Rs. 12,00,000 to write off Premium on Redemption of 9% Debentures.

5 views Answered 2023-02-05 15:29