7 1. Following is the balance Sheet of Excel Ltd. 31.1.2010 LIABILITIES F ASSETS F Eq. Sh. Capitul: 40,000 Shower 450 4,00,000 Land - Building 3.00,000 Poele Sl Capital: 2000 shares 17:00 200,000 Plant L Machinery 2,50,000 127. Denne 1.00.000 creditors Debtoys 75.000 Bank TO,000 11,50.000 Stock 125.000 PAL AIC (0) LO,000 8.75,000 8,75.000 nd Fortune ut acquires the business of Excel uho. and agrees to elever only fixed assets and debentures of Exed Lad. discharge Puwchose consideraton as under 3) lasue of 15,000 E Shares to PSH Han full settlement 3) leave of 35,000 E Shaves of Tio to ESH and payment of Case for the balance The land building and Plant Machinery e revalued + 7575,000 TIMS.200 espectively. Exul walised shock deltos + 2000 15.000 espectacly and discharged creditare at discount Liquid Expo Excel date 22. You to Realit AESH Forture Ltd. All Bank The Loof Gel y Jue entries books 2 Forhave to 10% prepare PH + 5 98 De DO S. 8 7 00 9 0 delete U o P {