Q 13 DK Goel Issue of Shares Solutions Class 12 CBSE (2024-25)

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Solutions of Question number 13 of Accounting for Companies Issue of shares chapter 6 of DK Goel Class 12 CBSE (2024-25)

X Ltd. took over the following assets and liabilities of Y Ltd:

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Land & Building ₹ 20,00,000; Stock ₹ 5,00,000; Sundry Debtors ₹ 2,50,000 and Sundry Creditors ₹ 2,00,000.

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X Ltd. paid purchase consideration by issuing Bank Draft of ₹ 16,00,000 and 50,000 Equity Shares of ₹ 20 each at 10% premium. Calculate purchase consideration and pass journal entries in the books of X Ltd.

[Ans. Purchase consideration ₹ 27,00,000; Goodwill ₹ 1,50,000.]

Solution:-

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Anurag Pathak
Anurag Pathak

Anurag Pathak is an academic teacher. He has been teaching Accountancy and Economics for CBSE students for the last 18 years. In his guidance, thousands of students have secured good marks in their board exams and legacy is still going on. You can subscribe his Youtube channel for free lectures

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