Question 31:
PKB Limited forfeited 15,000 shares of ₹ 20 each on which ₹ 8 (including ₹ 2 premium) was paid. Out of these 13,000 shares were re-issued @ ₹ 19 per share as fully paid up. Determine the amount of Share Forfeited balance.
- ₹ 91,000
- ₹ 90,000
- *₹ 12,000
- ₹ 16,000
Question 32:
Doon Ltd. purchased Equipment and paid ₹ 2,20,000 by cheque and issued 16,000 equity shares of ₹ 10 each at 25% premium. The purchase consideration will be:
- ₹ 3,40,000
- ₹ 2,00,000
- *₹ 4,20,000
- ₹ 3,80,000
Question 33:
Pateesa Ltd. took over running business of Burfi Ltd. comprising of Assets of ₹ 45,00,000 and Liabilities of ₹ 7,50,000 and in consideration issued them 30,000, 9% debentures of ₹ 100 each at 5% discount and a cheque of ₹ 10,00,000. Determine the amount of Goodwill or Capital Reserve.
- Capital Reserve ₹ 9,00,000
- Goodwill ₹ 9,00,000
- *Goodwill ₹ 1,00,000
- Capital Reserve ₹ 1,00,000
Question 34:
From the given situation, answer the following three questions:
Sleeper Ltd. issued 60,000; 8% debentures of ₹ 100 each at 5% Discount and to be redeemed at 10% premium at the end of 5 years. On the date of issue, balance in Securities Premium was ₹ 8,00,000 and Statement of Profit Loss (Dr.) was ₹ 5,00,000.
Loss on Issue of Debentures is to be written off as ______ out of Securities Premium and ______) out of Statement of Profit and Loss.
- *₹ 8,00,000 ; ₹ 1,00,000
- ₹ 4,50,000 ; ₹ 4,50,000
- ₹ 4,00,000 ; ₹ 5,00,000
- ₹ 6,00,000 ; ₹ 3,00,000
After writing off Loss on Issue of Debentures, _______ balance in Statement of Profit and Loss will be ________
- Credit ; ₹ 6,00,000
- Debit ; ₹ 4,00,000
- *Debit ; ₹ 6,00,000
- Credit ; ₹ 4,00,000
Premium on Redemption of Debentures account will have a balance of________ to be treated as ______ in the first year.
- ₹ 9,00,000 ; Current Liabilities
- ₹ 9,00,000 ; Non-Current Liabilities
- *₹ 6,00,000 ; Non-Current Liabilities
- ₹ 6,00,00 ; Current Liabilities