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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
    Gopal Ltd. purchased machine of Rs. 1,15,000 from Indian Traders, payment of Rs. 10,000 was made by issuing cheque and the remaining amount by issue of equity shares of the face value of Rs. 10 each fully paid at an issue price of Rs. 10.50 each. Amount of securities premium will be:

    A) Rs. 6,000                                  

    B) Rs. 7,000   

    C) Rs. 5,000                                  

    D)  Rs. 4.000

    Correct Answer: C

    Solution :

    [c] Rs. 5,000
    Hint: Securities Premium = 10,000 \[\times \] 0.50 = Rs. 5,000


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