Question

23. P & Co. and R& Co. amalgamated with
effect from 1-4-2013. P & Co. had the
following account balances on that date:
Computers 10,000 Furniture 5,000 Inventory
9,000 Debtors 6,000 Bank 2,000 Cash 1,000
Creditors 5,000 Bills Payable 5,000.
Computers were valued at Rs 12,000.
Furniture was not taken over by new firm • A
reserve of 5% is to be created by debtors •
Goodwill was valued at Rs 10,000. The new
firm also assumed other Assets and Liabilities
of old firm at book value The purchase
consideration was
a) Rs 27,700
Ob) Rs 19,700
c) Rs 29,700
d) Rs 30,000​

Answer 1

Step-by-step explanation:

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