Question

X Ltd., and Y Ltd., agree to amalgamate as from 31st December 2018 on which date their respective Balance Sheet were as follows: Liabilities X Ltd Y Ltd Assets X Ltd Y Ltd Shares capital : Cash in hand 100 50 Shares of Re.1 each 80,000 25,000 Cash at bank 3,400 450 Sundry Creditors 3,000 1,000 Sundry debtors 22,500 6,000 Reserves 7,500 4,000 Plant 12,000 4,500 P&L a/c 2,500 1,000 Stock 15,000 7,000 Premises 30,000 10,000 Patents 10,000 3,000 93,000 31,000 93,000 31,000

Answer 1

Answer:

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