# Accounting Multiple choice

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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

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