Question :

Y Ltd., purchased plant and machinery for Rs.2,00,000 from Z Ltd. 20% of the amount was paid by Y Ltd. by accepting a bill of exchange in favour of Z Ltd. and the balance was paid by issuing 6% debentures of Rs. 1,000 each at a premium of 25%.

Securities premium reserve credited with --------

Option 1: Rs 3,20,000

Option 2: Rs 28,000

Option 3: Rs 25,000

Option 4: None of the above 

Question :

Citizen Ltd. issued 10,000, 6% Debentures of  Rs. 100 each at a discount of 10% redeemable at 10% premium. It has Securities Premium Reserve of  Rs. 1,75,000. Loss on Issue of Debentures  Rs. 2,00,000 will be written off by passing the following entry

Option 1: Debited securities premium with Rs 1,75,000 and credited loss on issue of debenture account Rs 1,75,000

Option 2: Debited securities premium reserve account with Rs 1,75,000 and debited surplus in profit and loss account Rs 25,000 and credited loss on issue of debenture account Rs 2,00,000

Option 3: Debited surplus in statement of profit and loss account Rs 2,00,000 and credited loss on issue of debentures account 

Option 4: None of these 

Question :

Y Ltd., purchased plant and machinery for Rs.2,00,000 from Z Ltd. 20% of the amount was paid by Y Ltd. by accepting a bill of exchange in favour of Z Ltd. and the balance was paid by issuing 6% debentures of Rs. 1,000 each at a premium of 25%.

Number of debentures issued is -------

Option 1: 1,280 debentures 

Option 2: 128 debentures 

Option 3: 160 debentures 

Option 4: 1,600 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 : Mk  Ltd. purchased machinery for Rs.3,50,000 from K Ltd. on 28.2.2018. Rs.50,000 were paid to S K Ltd. immediately and the balance was paid by issue of 10% debentures of Rs.3,10,000 in Mk Ltd. Then the balance of Rs.10,000 will be transferred to 

Option 1: Goodwill account 

Option 2: Capital reserve account 

Option 3: Discount on issue of Debentures account 
 

Option 4: Securities premium account