The excess price received over the par value of shares, should be credited __________.

Related MCQs

• While putting the value or price of an entity in financial records the lowest price is recorded not the current price or current market value. This is known as
• To issue shares on Par mean
• Goods sent by HO but not received by branch before the end of the year, by debiting it to goods in transit, which account should be credited?
• Preference shares have priority over equity shares for
• Value of goods withdrawn by the proprietor for his personal use should be credited to ____
• When shares are forfeited, the share capital account is debited with ________ and the share forfeiture account is credited with __________.
• If shares are bought back out of free reserves then a sum equal to nominal value of the shares so bought back is transferred to:
• Goods are sent to branch at cost plus 20%. If closing stock of the branch is Rs 60,000 at invoice price, Rs ______ will be credited to stock reserve a/c.
• HO sends goods to branch at invoice price after adding 25% on cost price, so profit would be ___ % of invoice price
• H.O. sent goods to branch at invoice price 50% plus on original price. How many percentage of profit will be on Invoice price?