Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

it's urgent. can anyone help???? we be really great ful Question et Enter you BT The Balance sheet of Y Co. Las ce that stew

image text in transcribed

it's urgent. can anyone help???? we be really great ful

Question et Enter you BT The Balance sheet of Y Co. Las ce that stew Liabilities RS Assets Equity capital Share of Rs I ench) 3,00,000 Goodwill General reserve 80.00 Land Buildings Debrentures 50.000 Plant & Machines Creditons 10.OO Stock POL Ale 60,000 Debtors Cash 3.00,000 The consideration was as follows: 60.00 1,20.000 2.00.000 R0.000 30.000 10.000 5.00.000 a. A cash payment of Rs.4 for every share of Y Ltd. b. The issue of one share of Rs.10 each at market value of Rs. 12.50 in the X Co, Lid. foc every share in Y Ltd. c. The issue of 1.100 debentures of Rs.50 each in X Co. Ltd. to enable y Ltd. to discharge its debentures at a premium of 10% Total w d. The expenses of liquidation of Y Ltd. amounting to Rs.4,000 was to be met by themselves. Calculate Purchase Consideration and Pass journal entries in the books of Y Ltd

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Modern Auditing And Assurance Services

Authors: Philomena Leung, Paul Coram, Barry J. Cooper, Peter Richardson

5th Edition

1742168450, 978-1742168456

More Books

Students also viewed these Accounting questions

Question

Evaluate 3x - x for x = -2 Answer:

Answered: 1 week ago

Question

explain the concept of strategy formulation

Answered: 1 week ago