Question

Ilustration 9.
A & B were partners sharing profits and losses in the ratio 2:1
Balance Sheet as on 31.12.17
Liabilities
Rs.
Assets
Capital
Land and Building
A
64 000 Plant & Machinery
B
40 000 Debtors
Creditors
21 600 Stock
7 200 B/R
Rs.
40 000
20 000
23 200
24 000
6400
B/P
58
Mrs. A's loan
3 200 Investment
Cash
Goodwill
4 800
9 600
8 000
Total
1 36 000
Total
1 36 000
It was agreed by the company to take over assets excluding cash at
book value except land and Building & Stock which was taken over at
Rs. 45 000 & 20 000 respectively. Investments were retained by the
firm and sold for Rs. 40 000. Mrs. A's loan was repaid by the firm.
Remaining liabilities were taken over by the company. Goodwill was
valued at
Rs. 28 800. The purchase consideration was paid by issue of 10 000
equity shares of Rs. 10 each & balance in cash​

Answer 1

Answer:

a 1234567890 b 987654321