Multiple Choice Questions on Sunrise Ltd purchased a building for Rs 5 00 000 payable as 15 in cash and balance by allotment of 9........... for UPSC EPFO Exam Preparation

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Multiple Choice Questions

Sunrise Ltd purchased a building for Rs 5 00 000 payable as 15 in cash and balance by allotment of 9...........

General Accounting Principles Accounting For Debentures
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    Sunrise Ltd purchased a building for Rs 5,00,000 payable as 15% in cash and balance by allotment of 9% debentures of Rs 100 each at a premium of 25%. Number of debentures issued will be :

    4250

    Incorrect Answer

    4000

    Incorrect Answer

    5000

    Incorrect Answer

    3400

    Correct Answer
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    Explanation:

    PURCHASE CONSIDERATION= Rs.5,00,000

    Less:           15% PAID IN CASH=Rs.   75,000

                                            TOTAL=RS.4,25,000

    NO. OF DEBENTURES ISSUED= PURCHASE CONSIDERATION/ ISSUE PRICE OF DEBENTURE  

     Rs.4,25,000/125= 3,400 DEBENTURES                                                             (ISSUE PRICE RS.100+25%)

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