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Question :

Y Ltd., purchased plant and machinery for Rs.2,00,000 from Z Ltd. 20% of the amount was paid by Y Ltd. by accepting a bill of exchange in favour of Z Ltd. and the balance was paid by issuing 6% debentures of Rs. 1,000 each at a premium of 25%.

Securities premium reserve credited with --------

Option 1: Rs 3,20,000

Option 2: Rs 28,000

Option 3: Rs 25,000

Option 4: None of the above 


Team Careers360 21st Jan, 2024
Answer (1)
Team Careers360 25th Jan, 2024

Correct Answer: Rs 3,20,000


Solution : Answer = Rs 3,20,000

Z Ltd -     Dr    20,00,000

To B/P    -     4,00,000

To % DeBentures   - 12,00,000

To securities Premium 3,20,000

$\left(Rs\frac{1600000}{1250}=1280 \mathrm{deb}\right)$

3,20,000
Hence, the correct option is 1.

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