Question

amalgamation,
Ans. Balance Sheet 33,00,000.
12. Naresh Cotton Mills Ltd, go into voluntary liquidation, Anew.company Mahesh Cotton Mills Ltd. was formed
to acquire the assets of Naresh Cotton Mills Ltd. on 31st March, 2014. The assets and liabilities of Narnes
Cotton Mills Ltd. were as follows:
Fixed Assets + 7,20,000; Current Assets ? 80,000; Liabilities 7 1,60,000. Its paid up capital was 78.000
The assets were sold to new company for 7 5,76,000. + 4,00,000 payable in shares of ? 1 each credited with
90 paisa per share paid up and 7 1,76,000 in cash. Naresh Cotton Mills Ltd. paid its liabilities in full and ale
the cost of liquidation of 7 16,000. Pass the journal entries in the books of Naresh Cotton Mills Ltd.
Ans. Opening Balance Sheet Total 78,00,000.
To Make External Reconstruction after preparing of B/S on Incomplete Information

Answer 1

Answer:

jjfgjhdf hhdfhngf hgddjbdujhff