Accounting Multiple choice
posted by David on .
ACON lTD ACQUIRES THE ASSETS AND ASSUMES THE LIABILITIES OF BIRD LTD WHICH HAVE OPEN MARKET VALUES OF A
Assets $120,000 Liabilities $15,000
Acorn is to issue a debenture of $50,000 and 10,000 $1 Ordinary shares for the balance of consideration.
What will be the credit to the share
premium account in the books of Accorn LTD.
A$45000 B $55000 C $60000 D $95000