Q 13 DK Goel Issue of Shares Solutions Class 12 CBSE (2024-25)
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:
Land & Building ₹ 20,00,000; Stock ₹ 5,00,000; Sundry Debtors ₹ 2,50,000 and Sundry Creditors ₹ 2,00,000.
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:-
