Accountancy, asked by prachisalunke03, 6 months ago

A. Limited agreed to purchase the business of XY as on 31-03-2020. The assets on that date were Rs. 4,40,000 and Liabilities to outsiders Rs. 1,90,000 for the purpose of sale, it is agreed that 90% of the assets alone will be taken over at 10% discount.

Answers

Answered by shyamaldas96066

Explanation:

debited to the profit and loss account is Rs. 900 (Rs. 1,200 – Rs. 300). ... sheet as on that date shall appear as follows : Trading ... The closing stock shall be shown on the assets side of the balance sheet as.

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A. Limited agreed to purchase the business of XY as on 31-03-2020. The assets on that date were Rs. 4,40,000 and Liabilities to outsiders Rs. 1,90,000 for the purpose of sale, it is agreed that 90% of the assets alone will be taken over at 10% discount.​

Answers

A. Limited agreed to purchase the business of XY as on 31-03-2020. The assets on that date were Rs. 4,40,000 and Liabilities to outsiders Rs. 1,90,000 for the purpose of sale, it is agreed that 90% of the assets alone will be taken over at 10% discount.