Accounting problem related to mergers and reconstruction
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(i) Issued 35 lakh fully paid equity shares of Rs 10 each at par to the equity shareholders of S Ltd.
(ii) Issued fully paid 12% preference shares of Rs 10 each to discharge the preference shareholders of S Ltd. at a premium of 10%.
It is agreed that the debentures of S Ltd. will be converted into equal number and amount of 10% debentures of P Ltd.
(ii) Issued fully paid 12% preference shares of Rs 10 each to discharge the preference shareholders of S Ltd. at a premium of 10%.
It is agreed that the debentures of S Ltd. will be converted into equal number and amount of 10% debentures of P Ltd.
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