Need all parts otherwise downvote
1.
Purchase Consideration | ||
A Ltd | B Ltd | |
No of O/s shares | 100,000.00 | 60,000.00 |
Valued @ per share | 18.00 | 20.00 |
So purchase consideration | 1,800,000.00 | 1,200,000.00 |
2.
Realisation a/c Dr | 2440000 | |
To Land and building | 900000 | |
To Plant and Machinery | 500000 | |
To Investment | 80000 | |
To Inventory | 520000 | |
To Trade Receivables | 410000 | |
To Cash | 30000 | |
(Assets trfd.) | ||
10% Debentures Dr | 500000 | |
Trade payables Dr | 260000 | |
To Realisation a/c | 760000 | |
(Liabilities trfd) | ||
Share holders' a/c Dr | 60000 | |
To Realisation a/c | 60000 | |
(Contingent libaility now recognised as actual) | ||
Share capital a/c Dr | 1000000 | |
Securities premium a/c Dr | 200000 | |
General reserve a/c Dr | 300000 | |
Profit and Loss a/c Dr | 180000 | |
To Share holders' a/c | 1680000 | |
(Equities trfd to shareholders a/c) | ||
AB Ltd a/c Dr | 1800000 | |
To Realisation a/c | 1,800,000.00 | |
(Purchase Consideration Receivable) | ||
Realisation a/c Dr (Note 1) | 180000 | |
To Share Holder's a/c | 180000 | |
(Profit On realisation a/c trfd) | ||
Shares in AB Ltd a/c Dr | 1800000 | |
To AB Ltd a/c | 1,800,000 | |
(Purchase consideration received) | ||
Share holders' a/c Dr | 1800000 | |
To Shares in AB Ltd a/c | 1800000 | |
(Purchase consideration trfd to Shareholders) |
3.
Business Purchase a/c Dr | 3,000,000 | |
To Liquidators of A Ltd | 1,800,000 | |
To Liquidators of B Ltd | 1,200,000 | |
(Purchase consideration payable) | ||
Land and building Dr | 900000 | |
Plant and Machinery Dr | 500000 | |
Investment dr | 80000 | |
Inventory dr | 520000 | |
Trade Receivables Dr | 410000 | |
Cash Dr | 30000 | |
Goodwill a/c Dr | 180000 | |
to Trade payable | 260000 | |
To 10% Debentures' | 500000 | |
To Other Liability | 60000 | |
To Business Purchase a/c | 1,800,000 | |
(Assets , Liabilities trfd along with Pucrhase consideration and balance trfd to goodwill | ||
Land and building Dr | 450000 | |
Plant and Machinery Dr | 380000 | |
Inventory dr | 350000 | |
Trade Receivables Dr | 260000 | |
Cash Dr | 40000 | |
Goodwill a/c Dr | 190,000 | |
to Trade payable | 170,000 | |
To Secured Loans | 300,000 | |
To Business Purchase a/c | 1,200,000 | |
(Assets , Liabilities trfd along with Pucrhase consideration and balance trfd to goodwill | ||
Liquidators of A Ltd Dr | 1,800,000 | |
To Share capital a/c (112500*10) | 1125000 | |
To securities Premium (112500*6) | 675000 | |
(1800000/16 = 112500 Shares) | ||
(Purchase consideration discharged with shares of Face value Rs 10 with premium of 6 Rs per share) | ||
Liquidators of A Ltd Dr | 1,200,000 | |
To Share capital a/c (75000*10) | 750000 | |
To securities Premium (75000*6) | 450000 | |
(1200000/16 = 7500 Shares) | ||
(Purchase consideration discharged with shares of Face value Rs 10 with premium of 6 Rs per share) |
4.
Assets | ||
Land and building | 900000+450000 | 1350000 |
Plant and Machinery | 500000+380000 | 880000 |
Investment | 80000 | |
Inventory | 520000+350000 | 870000 |
Trade Receivables | 410000+260000 | 670000 |
Cash | 30000+40000 | 70000 |
Goodwill a/c | 180000+190000 | 370000 |
Total Assets | 4290000 | |
Liabilties and equity | ||
Liability | ||
Trade payable | 260000+170000 | 430,000 |
10% Debentures' | 500000 | |
Other Liability | 60000 | |
Secured Loans | 300,000 | |
Total Liabilities | 1,290,000 | |
Equity | ||
Share Capital | 1125000+750000 | 1875000 |
Securities Premium | 450000+675000 | 1125000 |
Total Equity | 3000000 | |
Total Liabilities & Equity | 4,290,000 | |
To Assets | 2,440,000.00 | By Liabilities | 760,000.00 |
To Shareholders' a/c (Bal fig) | 180,000.00 | By AB Ltd | 1,800,000.00 |
By Share holders' a/c | 60,000.00 | ||
TOTAL | 2,620,000.00 | TOTAL | 2,620,000.00 |
Need all parts otherwise downvote BLtd. 6,00,000 2,50,000 1,60,000 Following are the summarised Balance Sheets of...
Only attempt if you can solve all parts BLtd. 6,00,000 2,50,000 1,60,000 Following are the summarised Balance Sheets of A Ltd. and B Ltd, as at 312 Particulars A Ltd. Share capital: Equity shares 10 each (fully paid up) 10,00,000 Securities premium 2,00,000 General reserve 3,00,000 Profit and loss account 1,80,000 10% Debentures 5,00,000 Secured loan Trade payables 2,60,000 24,40,000 Land and building 9,00,000 Plant and machinery 5,00,000 Investment 80,000 Inventory 5,20,000 Trade receivables 4,10,000 Cash at bank 30,000 24,40,000...
The following trial balance was extracted from the books of G & E Production Company Ltd on 31 December 2018 and presented to you the Financial Accountant: Trial Balance Details/Accounts Dr $ Cr $ Purchases of direct raw materials 24,200,000 Stock of direct raw materials 1 January 2018 5,500,000 Wages paid to manufacture goods 12,000,000 Insurance 2,000,000 Electricity 1,450,000 Cash at bank 28,000,000 Accounts payable 3,500,000 Discounts 450,000 500,000 Return of direct raw materials 200,000 Cash in hand 600,000 Work-in-progress...