The entry "Debentures Suspense A/c Dr., To Debentures A/c" can be passed/done:

CS Executive · Corporate and Management Accounting · PYQS · December 2019
The entry "Debentures Suspense A/c Dr., To Debentures A/c" can be passed/done:
(A) On the issue of debentures for the consideration other than cash.
(B) On the issue of debentures as collateral security.
(C) For rectification of the error relating to balance of debentures account.
(D) On the issue of debentures at discount but redeemable at premium.

Answer & Explanation:

Correct Answer: Option (B)

Official answer key: (B).

Topics: Company Accounts

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