N Ltd. purchased fixed asset of Rs. 28,80,000. The consideration was paid by issue of 12% Debenture of 100 each at 20% premium. Number of debentures to be issued will be _______.

32,000

No worries! We‘ve got your back. Try BYJU‘S free classes today!

36,000

No worries! We‘ve got your back. Try BYJU‘S free classes today!

28,800

No worries! We‘ve got your back. Try BYJU‘S free classes today!

24,000

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Open in App

Solution

The correct option is B 24,000
Here, to purchase assets of Rs 28,80,000, 12% debentures were issued at Rs 100 each with premium of 20% i.e. Rs 120
This means that the number of debentures issued is Rs 28,80,000/Rs 120 i.e. 24,000.

Suggest Corrections

Similar questions

Q. N Ltd. purchased fixed asset of Rs. 4,00,000 out of Rs. 1,30,000 paid in cash and balance in debentures. The consideration was paid by issue of 12% Debenture of 100 each at 10% discount. Number of debentures to be issued will be ____.

Q. G Ltd. purchased fixed asset of Rs. 2,00,000. The consideration was paid by issue of 12% Debenture of Rs. 100 each at discount of 20%. The Debenture A/ c to be credited with _______.

Q. X Co. Ltd purchased assets worth Rs.

28, 80, 000

. It issued debentures of Rs.

100

each at a discount of

4 %

in full satisfaction of the purchase consideration. The number of debentures issued to the vendor of asset is?

A company purchased assets of the book value of Rs 10,00,000 from Best Ltd. It was agreed that the purchase consideration would be paid by issuing 13% Fully paid Debentures of Rs 40 each. If Debentures are issued at par then how many such Debentures would be issued by the company to Best Ltd.?

Q. G Ltd purchased land and building from H Ltd. at a book value of Rs. 2,00,000. The consideration was paid by issue of 12% debentures of Rs. 100 each at a discount of 20%. For this transaction, the debentures account would be credited with -

Join BYJU'S Learning Program

N Ltd. purchased fixed asset of Rs. 28,80,000. The consideration was paid by issue of 12% Debenture of 100 each at 20% premium. Number of debentures to be issued will be _______.

The correct option is B 24,000Here, to purchase assets of Rs 28,80,000, 12% debentures were issued at Rs 100 each with premium of 20% i.e. Rs 120 This means that the number of debentures issued is Rs 28,80,000/Rs 120 i.e. 24,000.

The correct option is B 24,000
Here, to purchase assets of Rs 28,80,000, 12% debentures were issued at Rs 100 each with premium of 20% i.e. Rs 120
This means that the number of debentures issued is Rs 28,80,000/Rs 120 i.e. 24,000.