Question

A Building was purchased for ₹9,00,000 and payment was made in ? 100 shares at 20% premium. Securities Premium Reserve A/c will be ……………….
a) Credited by ₹1,50,000
b) Credited by ₹1,80,000
c) Debited by ₹1,80,000
d) Debited by ₹1,50,000​

Answer 1

Answer:

I think right is debited 180000

Answer 2

The answer is "a" credited by ₹1,50,000

Explanations: purchase consideration is Rs 9,00.000

shares 100+20% premium=120 per share

face value =9,00,000/120=7,500 shares

security premium reserve=Rs 9,00,000- Rs7,50,000

=1,50,000