The correct answer is: B. credited to Capital Reserve A/c
When vendors are issued fully paid shares of Rs. 12,000 in consideration of net assets of Rs. 9,000, the balance of Rs. 3,000 is called capital reserve. Capital reserve is a reserve that arises when a company issues shares at a premium. It is a non-distributable reserve and can be used to write off preliminary expenses, issue bonus shares, or for any other purpose that is not prohibited by law.
Here is a detailed explanation of each option:
Option A: Securities Premium A/c
Securities premium is a reserve that arises when a company issues shares at a premium. It is a non-distributable reserve and can be used to write off preliminary expenses, issue bonus shares, or for any other purpose that is not prohibited by law. However, in this case, the shares are issued at a premium of Rs. 3,000, which is not the case in the question. Therefore, this option is not correct.Option B: Capital Reserve A/c
Capital reserve is a reserve that arises when a company issues shares at a premium. It is a non-distributable reserve and can be used to write off preliminary expenses, issue bonus shares, or for any other purpose that is not prohibited by law. In this case, the shares are issued at a premium of Rs. 3,000, which is the balance of Rs. 12,000 – Rs. 9,000. Therefore, this option is correct.Option C: Debited to Goodwill A/c
Goodwill is an intangible asset that arises when a company acquires another company for more than the fair value of its net assets. It is the difference between the purchase price and the fair value of the net assets acquired. In this case, the company is not acquiring another company, so there is no goodwill. Therefore, this option is not correct.Option D: Debited to Profit and Loss A/c
Profit and loss is a statement that shows the financial performance of a company for a period of time. It includes revenues, expenses, gains, and losses. In this case, the company is not making a profit or a loss. Therefore, this option is not correct.