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Exe Ltd. Purchased assets of the books value ₹ 4,00,000 and took over the liabilities of ₹ 50,000 from Mohan Bros. It was agreed thet the purchaas

Monjur Alahi

Exe Ltd. Purchased assets of the books value ₹ 4,00,000 and took over the liabilities of ₹ 50,000 from Mohan Bros. It was agreed thet the purchaase consideration, settled at ₹ 3,80,000, be paid by issuing debentures of ₹ 100 each. It was agreed that any fraction of debentures be paid in cash.


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Salim Ahmed Kawsar

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Correct Answer - Goodwill ₹ 30,000; Case (a) 3,800 Debentures of ₹ 100 each; Cash (b) 4,222 Debentures of ₹ 100 each and paid cash ₹ 20; Case (c) 3,454 Debentures of ₹ each and paid cash ₹ 60.

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ABC Ltd. has Debt Equity ratio of 3:1 whereas Ltd. has Debt Equity ratio of 1:1. Name the advantage ABC Ltd will have over Ltd, when the rate of inter

Correct Answer - a Trading on equity.

2 Answers 3 views
Net Working Capital = Current Assets Minus -  (A) Current Liabilities  (B) Net Liabilities  (C) Current Assets  (D) Assets

Correct option is: (A) Current Liabilities

2 Answers 1 views
Reliance Ltd. Purchased machinery costing ₹ 1,35,000. It was agreed that the purchase consideration be paid by issuing 9% Debentures of ₹ 100 each

Correct Answer - Number of Debentures Issued -(i) 1,350; (ii) 1,500.

2 Answers 1 views
Bright Ltd. Took over the assets of ₹ 6,60,000 and liabilities of ₹ 80,000 of star Ltd. For an agreed purchase consideration of ₹ 6,00,000 payab

Correct Answer - Entry in all Cases: Dr Sundry Assets A/c- ₹ 6,60,000 and Goodwill A/c - ₹ 20,000; Cr . Sundry Liabilities A/c - ₹ 80,000 and star Ltd....

2 Answers 1 views
Star Ltd. Took over the assets of ₹ 6,60,000 and liabilities of ₹ 80,000 of Moon Ltd. For ₹ 6,00,000 . Give necessary Journal entries in the boo

Correct Answer - Entry in both Cases: De. Sundry Assets A/c - ₹ 6,60,000 and Goodwill A/c - ₹ 20,000; Cr. Sundry Liabilities A/c ₹ 80,000 and Moon Ltd. -...

2 Answers 1 views
R Ltd. Purchased the assets of S Ltd. For ₹ 5,00,000. It also agreed to take over the liabilities of S Ltd. Amounted to ₹ 2,00,000 for a purchase

Correct Answer - Capital Reserve - ₹ 20,000

2 Answers 1 views
Green Ltd. Purchased the assets of Strong Ltd. For ₹ 40,00,000 and took over liabilities of ₹ 7,00,000 at an agreed value of ₹ 32,40,000. Paymen

Correct Answer - (i) Dr. Sundry Assets A/c by ₹ 40,00,000, Cr. Sundry Liabilities A/c by ₹ 7,00,000; Strong Ltd .by ₹ 32,40,000 and Capital Reserve A/c by ₹ 60,000;...

2 Answers 1 views
Wellbeing Ltd. Took over assets of ₹ 9,80,000 and liabilities of ₹ 40,000 of HDR Ltd. At an agreed value of ₹ 9,00,000. Wellbeing Ltd. Paid to H

Correct Answer - (i) Dr. Sundry Assets A/c by ₹ 9,80,000, Cr. Sundry Liabilities A/c by ₹ 40,000; HDR Ltd by ₹ 9,00,000 and Capital Reserve A/c by ₹ 40,000....

2 Answers 1 views
Sandesh Ltd. took over the assets of Rs. 7,00,000 and liabilities of Rs. 2,00,000 from Sanchar Ltd. For a purchase consideration of Rs. 4,59,500 . Rs.

Correct Answer - Capital Reserve-Rs 40,500.

2 Answers 1 views
Which of the following equations are correct ? `{:(I.,"Assets",=,"Capital",+,"Liabilities"),(II.,"Assets",=,"Capital",-,"Liabilities"),(III.,"Assets",

Correct Answer - I, IV, VIII.

2 Answers 1 views

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