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 : X Ltd. took over assets of Rs.5,00,000 and liabilities of Rs.1,00,000 of   another company at an agreed price of Rs.3,80,000. The purchase consideration was discharged by issuing debentures of Rs. 100 each at a discount of 10%. It was agreed that any fraction of the debenture be paid in cash.

Question:- Balance of Rs.20,000 will be 

Option 1: Debited to goodwill Account
 

Option 2: Debited to capital reserve account 

Option 3: Credited to securities account 
 

Option 4: Credited to Capital Reserve account