S Ltd. had issued 80,000, 8% Debentures of ₹100 each redeemable on 31st December, 2019 at a premium of 20%. The company offered three options to debentureholders, out of which one is to convert their holdings into equity
CS Executive · Corporate and Management Accounting · PYQS · December 2019
S Ltd. had issued 80,000, 8% Debentures of ₹100 each redeemable on 31st December, 2019 at a premium of 20%. The company offered three options to debentureholders, out of which one is to convert their holdings into equity shares of ₹10 each at a premium of ₹3.50 per share. This offer was accepted by the holders of 49,275 debentures. For this, number of equity shares issued will be:
Answer & Explanation:
Correct Answer: Option (A)
Official answer key: (A).
Topics: Company Accounts
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