Answer the questions from the passage-
XYZ Ltd. purchased assets worth Rs 3,00,000 from Blue Prints Ltd., and took overs its liabilities of Rs 20,000 for a purchase consideration of Rs 3,15,000. XYZ Ltd., paid the purchase consideration by issuing 12% debentures of Rs 100 each at a premium of 5%.
Number of debentures issued are:
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → 3,000
Given:
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Purchase consideration = ₹3,15,000
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Each debenture = ₹100
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Issued at a premium of 5%, i.e., at ₹105 per debenture
Number of debentures=Purchase consideration/ Issue price per debenture
= 3,15,000/105 = 3,000 debentures