Question : A Company purchased assets of the book value of Rs.6,00,000 and took Over liabilities of Rs.1,50,000 from Silver Ltd. It was agreed that the purchase consideration settled at Rs.4,80,000 be paid by issuing debentures of Rs. 100 each at a premium of 10%.
Question: The amount paid to Silver Ltd will be
Option 1: Rs 63
Option 2: Rs 60
Option 3: Rs 70
Option 4: None of the above
Correct Answer: Rs 70
Solution : Answer = Rs 70
Vendor Co. Dr 4,80,0000 To Debentures A/c 436300 To securities premium A/c 43630 To Cash A/c 70 Hence, the correct option is 3.
Question : A Company purchased assets of the book value of Rs.6,00,000 and took Over liabilities of Rs.1,50,000 from Silver Ltd. It was agreed that the purchase consideration settled at Rs.4,80,000 be paid by issuing debentures of Rs. 100 each at a premium of
Question : Sudhir Ltd. took over Assets of Rs.8,50,000 and Liabilities of Rs.1,50,000 of Gopal Ltd. at an agreed price of Rs.7,20,000. The purchase consideration was discharged by issuing 12% debentures of Rs.100 each at a premium of
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