A company issued 30,000, 9% Debenture of Rs. 100 each at 5% premium. These debentures are to be redeemed at 15% premium at the end of 4 years. Existing Balance in Securities Premium before Issue of Debentures was Rs. 80,000. Identify the amount to be debited to Statement of Profit and Loss for writing off Loss on issue of Debentures.
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Shift 30/05/2023 8:30 AM - 10:30 AM
A
Rs. 4,50,000
B
Rs. 2,20,000
C
Rs. 2,25,000
D
Rs. 3,70,000
Correct Answer
Rs. 2,20,000
Detailed Explanation
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