please try to solve this as soon as possible.
2 Replies
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 19 March 2021
In the books of B
1.& 2. it doesn’t matter because it used amounts while acquisition and not number of shares data. So, A total equity= Two lakhs worth
By cost of investment a/c two lakhs
To Bank one lakh eighty thousand only
To Cash twenty thousand
3. While transferring debentures, the par value can be transferred from A the same as this and B will re calculate the outstanding liabilities payable at the end of the year.
By A a/c (fifty thousand)
To Debentures a/c
In the books of A
By Bank (two lakhs)
To Sales proceeds
To recognise the loss,
By loss on sale (fifty thousand)
To Sploci-pl
then derecognise NB the debentures
By Debentures a/c ( fifty thousand)
To B a/c
Hope this is the right answer
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