Multiple Choice Questions on lsquo A rsquo Limited purchased the assets from lsquo B rsquo Limited for Rs 5 40 000 lsquo A ........... for UPSC EPFO Exam Preparation

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Multiple Choice Questions

lsquo A rsquo Limited purchased the assets from lsquo B rsquo Limited for Rs 5 40 000 lsquo A ...........

General Accounting Principles Accounting For Debentures
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     ‘A’ Limited purchased the assets from ‘B’ Limited for Rs 5,40,000. ‘A’ Limited issued 10% debentures of Rs 100 each at 20% premium against the payment. The number of debentures received by ‘B’ Limited will be :

    4500

    Correct Answer

    5400

    Incorrect Answer

    45000

    Incorrect Answer

    6000

    Incorrect Answer
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    Explanation:

    A bought furniture from B: Rs 5,40,000

    A issued 10% Debentures worth Rs100 each but with at 20% premium

    100+20% = 120

    so each debenture is worth Rs 120

    5,40,000/120=4500 debentures

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