A company issues 10,000 equity shares of ₹10 each at a premium of ₹5. The amount credited to Securities Premium A/c is: MCQ with Answer and Explanation

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A company issues 10,000 equity shares of ₹10 each at a premium of ₹5. The amount credited to Securities Premium A/c is:

A. ₹50,000

B. ₹1,00,000

C. ₹1,50,000

D. ₹10,000

Answer: Option A

Solution (By JKSSB Mock Tests)

Securities premium = shares * premium per share = 10,000 * 5 = ₹50,000.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

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The 'Purchase Returns Book' records:

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Correct Answer: Option D

Explanation:
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The 'Section 269ST' prohibits:

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Correct Answer: Option B

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