Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Financial Accounting Expert

problem 1) Answer all the problems:

(i) What do you mean by debenture? prepare the name of different types of debentures.

(ii) What do you understand by fair value of share? How is it computed?

(iii) Describe the meaning of sub division of shares with appropriate ex.

(iv) prepare down the objectives of amalgamation?

(v) What do you understand by statement of affairs?

problem 2) What are redeemable preference shares? Describe the various methods of redeeming the redeemable preference shares.

problem 3) What is liquidation of companies? What are the different modes of winding up of company?

problem 4) Following are the Balance Sheet of Goodluck Ltd. and Fairluck Ltd. as on 1st April, 2010.

Liabilities                             Goodluck Ltd.    Fairluck Ltd.    Assets    Goodluck Ltd.    Fairluck Ltd.
                                                                                      Building      6,00,000           3,40,000
Equity share of Rs. 100 each    7,00,000        4,20,000        Cash          2,000                4,000
Reserve                                  1,40,000          72,000        Debtors     1,48,000            1,30,000
Creditor                                  2,10,000        1,38,000        Stock        3,00,000           1,56,000
                                            10,50,000        6,30,000                       10,50,000           6,30,000

Goodluck Ltd. amalgamated Fairluck Ltd. on the basis of intrinsic value of share. The purchase consideration is to be discharged in the form of fully paid equity shares, entries would be made at par value only. A sum of Rs. 20,000 is owned by Goodluck Ltd. to Fairluck Ltd.
Provide journal entries in the books of Fairluck Ltd. Create a Balance Sheet of Goodluck Ltd. soon after the amalgamation.

Financial Accounting, Accounting

  • Category:- Financial Accounting
  • Reference No.:- M94408

Have any Question? 


Related Questions in Financial Accounting

What does it mean to be jewish today select one of the

What does it mean to be Jewish today? Select one of the major branches of this faith—Orthodox, Reform, Conservative, Reconstructionist—and answer this question from the perspective of that group. Post must be at least 30 ...

What is the main purpose of the healthcare reform also

What is the main purpose of the Healthcare Reform also known as the Affordable Care Act? How will individual States influence delivery and how should reform alternatives be considered?

Assignment exxon versus chevronaccording to the textbook

Assignment: Exxon versus Chevron According to the textbook, the income statement measures the success of a company's operations for a given period. The income statement is important to investors and creditors, because it ...

Assignmenttask 1 accounting systemsbrave brands marketing

Assignment Task 1. Accounting systems Brave Brands Marketing is a well-renowned marketing organisation with a strong workforce of dedicated employees. However, the CEO has recently identified that many of his staff membe ...

Assignemntinstructions for accessing public company

Assignemnt Instructions for Accessing Public Company Financial Statements Accessing through SEC website 1. Start by going to www.sec.gov. 2. Under the ‘Filings' Menu, select ‘Company Filings Search' 3. Type in the Compan ...

Research case-comparing financial reporting objectives gasb

Research Case-Comparing Financial Reporting Objectives. GASB Concepts Statement No. 1, "Objectives of Financial Reporting," states that "Accountability is the cornerstone of all financial reporting in government." FASB S ...

Exercises1wasatch bank recently held an auction to dispose

Exercises 1. Wasatch Bank recently held an auction to dispose of various assets it had obtained through foreclosures and other loan settlements. Representatives of Aragon Semi-Conductors attended the auction to bid on an ...

Paper preparation topic abortion- please read instructions

Paper Preparation Topic: Abortion- Please read instructions in red. To prepare for your Paper (due in Week Five), complete the following assignment and submit it to your instructor for feedback. Your paper should include ...

Read harvard business reviews in search of a second act

Read Harvard Business Review's "In Search of a Second Act" case study. You can search for it in Business Source Complete (EBSCO) or use the see "How to find an article" in the Course Information tab. Two authors gave the ...

Rob leslie induced people to invest their savings in a

Rob Leslie induced people to invest their savings in a business venture that he represented to be risky. Because the planned venture never became operational, Leslie never applied the investors' funds in the way he promi ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro