12th Class
Accountancy
Accounting For Share Capital
Question Bank
MCQs - Accounting for Share Capital
question_answer
Vinod Limited purchased machinery for Rs.30,00,000 from Suraj Limited. Half of the amount was paid by accepting a 'Bill of Exchange' drawn by Suraj Limited, payable after 3 months. The balance was paid by issue of Equity Shares of Rs.10 each at a premium of 25%. How many shares are to be issued?