Question

X Ltd agreed to take over the business of Y Ltd. The consideration for this

is taking over of trade Liabilities

` 2,00,000 the payment of cost of

liquidation ` 15,000 discharge debentures of

` 5,00,000 at a premium of

10% by issue of 12% Debentures in X Ltd payment of

` 5 per share in cash

and issue of 2 fully paid

` 10 shares at ` 40 per share for every equity share

in Y Ltd. The share capital of Y Ltd consists of 1,00,000 equity shares of `

10 each fully paid up. The purchase consideration is
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Answer 1

Answer:

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Explanation:

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