Question : Mk  Ltd. purchased machinery for Rs.3,50,000 from K Ltd. on 28.2.2018. Rs.50,000 were paid to S K Ltd. immediately and the balance was paid by issue of 10% debentures of Rs.3,10,000 in Mk Ltd. Then the balance of Rs.10,000 will be transferred to 

Option 1: Goodwill account 

Option 2: Capital reserve account 

Option 3: Discount on issue of Debentures account 
 

Option 4: Securities premium account
 

Question : Y Ltd. purchased assets of Rs. 8,00,000 and liabilities of Rs. 1.00,000 from X Ltd. on 1.4.2018. Rs. 2,00,000 were paid immediately and the balance was paid by issue of Rs. 4,75,000, 10% debentures in Y Ltd __________ account will be _______ with __________.

Option 1: Capital reserve, credited, Rs. 25,000
 

Option 2: Goodwill, debited, Rs. 75,000
 

Option 3: Rs. 4,75,000 and Securities Premium, credited, Rs. 25,000

Option 4:  Rs. 5,00,000 debentures and Securities Premium credited Rs. 25,000
 

Question : KTR Ltd., issued 365, 9% Debentures of Rs. 1,000 each on 4th March, 2016 at 6% discount, redeemable at 5% premium. Loss on issue of Debentures debited/credited with _____________.

Option 1: Loss on issue of debentures account debited with Rs.36,500

Option 2: Loss on issue of debentures credited with Rs.41,150
 

Option 3: Loss on issue of Debentures debited with Rs. 41,150
 

Option 4: Loss on issue of debentures debited with Rs. 40,150
 

Question : KTR Ltd., issued 365, 9% Debentures of Rs. 1,000 each on 4th March, 2016 at 6% discount, redeemable at 5% premium. Loss on issue of Debentures debited/credited with _____________.

Option 1: Loss on issue of debentures account debited with Rs.36,500

Option 2: Loss on issue of debentures credited with Rs.41,150
 

Option 3: Loss on issue of Debentures debited with Rs. 41,150
 

Option 4: Loss on issue of debentures debited with Rs. 40,150
 

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 20%. 

Question:-  Rs 20,000 will be 

Option 1: Credited to goodwill account 

Option 2: Debited to goodwill account 

Option 3: Debited to discount on issue of debentures account ‘
 

Option 4: Debited  to loss on issue of debentures account