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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
    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%?

    A) 4,000

    B) 3,000

    C) 3,800

    D) 3,600

    Correct Answer: B

    Solution :

    3,000


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