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  5. Accounting For Share Capital

12th Class Accountancy Accounting For Share Capital Question Bank MCQs - Accounting for Share Capital

  • question_answer
    King Ltd. took over the assets of Rs.14,00,000 and liabilities of Rs.4,00,000 from Queen Ltd. for a purchase consideration of Rs.9,19,000. King Ltd. issued a promissory note of Rs.17,000 payable after 60 days in favour of Queen Ltd. and the balance amount was paid by issue of Equity Shares of Rs.100 each at a premium of Rs.25 per share. Number of Shares to be issued:

    A) 7,216

    B) 8,216

    C) 7,600

    D) 9,216

    Correct Answer: A

    Solution :

    7,216


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