Question : DLF Ltd. purchased a Machinery from JP power Ltd. for Rs. 9,00,000. DLF Ltd. immediately paid Rs. 1,80,000 by Bank Draft and the balance by issue of preference share of Rs. 100 each at 20% premium for the purchase consideration of Machinery to XY Ltd. Shares issued by AB Ltd?
Option 1: 6,000 preference shares
Option 2: 3,000 preference shares
Option 3: 3,600 preference shares
Option 4: 36,000 preference shares
Correct Answer: 6,000 preference shares
Solution : Answer = 6000 preference shares
JP Power Ltd. = 9,00,000
(-) Bank = 1,80,000
= 7,20,000
Number of preference shares issued = $\frac{7,20,000}{120(100+2)}$ = 6000 pref. shares. Hence, the correct option is 1.
Question : To provide employment to the youth and to develop Baramula district of Jammu and Kashmir, Jyoti Power Ltd. decided to set up a power plant. For raising funds the company decided to issue 8,50,000 equity shares of Rs. 10 each at a premium of Rs. 3 per share. The
Question :
To provide employment to the youth and to develop Baramula district of Jammu and Kashmir, Jyoti Power Ltd. decided to set up a power plant. For raising funds the company decided to issue 8,50,000 equity shares of Rs. 10 each at a premium
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