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:-  Number of debentures received by Gopal Ltd will be 

Option 1: 6,000 Debentures 

Option 2: 7,200 Debentures 

Option 3: 5,000 debentures 

Option 4: 8,500 debentures 

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:-  Number of debentures received by Gopal Ltd will be 

Option 1: 6,000 Debentures 

Option 2: 7,200 Debentures 

Option 3: 5,000 debentures 

Option 4: 8,500 debentures 

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