12th Class
Accountancy
Accounting For Share Capital
Question Bank
MCQs - Accounting for Share Capital
question_answer
Vinod Ltd. purchased a machine from Luxmi Machines Ltd. for Rs.3,80,000. As per purchase agreement Rs.20,000 were paid in cash and balance by issue of shares of Rs.100 each. How many shares to be issued to Luxmi Machines Ltd. if shares are issued at a premium of 20%?