Question : Prakash Ltd. purchased assets worth Rs.2,20,000 and also took over the liabilities (creditors) of Rs.40,000 of Ajay Ltd. for a purchase consideration of Rs.1,92,000. Prakash

Ltd. paid the purchase consideration by issuing 12% debentures of Rs.100 each at a premium of 20%.

Amount of Net assets are ------

Option 1: Rs 2,20,000

Option 2: Rs 40,000

Option 3: Rs 1,80.000

Option 4: None of these

Question : Prakash Ltd. purchased assets worth Rs.2,20,000 and also took over the liabilities (creditors) of Rs.40,000 of Ajay Ltd. for a purchase consideration of Rs.1,92,000. Prakash Ltd. paid the purchase consideration by issuing 12% debentures of Rs.100 each at a premium of 20%.

Number of debentures issued

Option 1: 1,200 debentures 

Option 2: 1,600 debentures 

Option 3: 1,500 debentures 

Option 4: 1,000 debentures

Question :

Exe Ltd. took over assets of  Rs. 7,00,000 and liabilities of  Rs. 60,000 of Wye Ltd. for the purchase consideration of Rs. 6,60,000. Exe Ltd. paid the purchase consideration by issuing 9% Debentures of  Rs. 100 each at 10% premium. 

Goodwill/capital reserve  will be debited/credited by _________.

Option 1: Debited goodwill account by Rs 20,000 

Option 2: Credited capital reserve by Rs 20,000

Option 3: Debited profit and loss account by Rs 20,000

Option 4: Debited goodwill account by Rs 40,000

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 
 

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