13 September 2012
A company issued 15,000 fully paid equity shares of Rs. 100 each for the purchase of the following assets and liabilities from Gupta Ltd.: Plant Rs. 3,50,000 Stock Rs. 4,50,000 Building Rs. 6,00,000 Creditors Rs. 1,00,000 journalise. (Source T S Grewal which he has copied from the book of SN Maheshwari)
Solution given is a under: Plant Dr. 3,50,000 Stock Dr. 4,50,000 Building Dr. 6,00,000 Goodwill (bal.fig.) Dr. 2,00,000 To Creditors 1,00,000 To Gupta Bros. 15,00,000
Gupta Bros. Dr. 15,00,000 To share capital 15,00,000
is the above entry is correct..... as in 12th standard there is no amalgamation so how cn v solve it as per amalgamation rule.
16 September 2012
thnx Mr. Vishnu for rplying. i didnt get u......... i jst confused on goodwill.......... i think there shuld nt b goodwill...... coz there is no purchase consideration given in d question... i m jst asking abt it from 12th standard point of view.... coz there is no topic of amalgamation in the 12th standard..
CAclubindia
