Question

Akash Ltd. acquired assets of Rs. 20 lakh and took over creditors of Rs. 2 lakh from Kapila Enterprises. Akash Ltd., issued Equity shares of Rs. 100 each at par as purchase consideration

What will be the amount of purchase consideration? a) Rs. 20,00,000 b) Rs. 2,00,000 c) Rs. 18,00,000 d) Rs. 100000
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Answer 1

Answer:

Here it is:-

Explanation:

Vishwas Ltd. issued 2,000; 9% Debentures of ₹ 100 each payable as follows:

₹ 25 on application; ₹ 25 on allotment and ₹ 50 on first and final call.

Applications were received for all the debentures along with the application money did allotment was made . Call money was also received on the due date.

Pass necessary Journal entries in the books of the company.