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

Financial accounting assignmentapa neededprocess cost

Financial Accounting Assignment APA NEEDED Process Cost Accounting Victory Company uses weighted-average process costing to account for its production costs. Direct labor is added evenly throughout the process. Direct ma ...

Discussion financial conditionbullfor this discussion

Discussion: Financial Condition • For this discussion, assume the role of a financial manager in a company, and assume that you have just hired a new bookkeeper to join your team. You want to assess the new hire's unders ...

Module problem-solution assignmentproblem 1brogan inc

Module Problem-Solution Assignment: Problem 1 Brogan, Inc., reports bad debt expense using the allowance method. For tax purposes the direct write-off method is used. At the end of the current year, Brogan has accounts r ...

Select an organization corporate or nonprofit with which

Select an organization (corporate or nonprofit) with which you are somewhat familiar that uses both online and offline channels. Discuss two or three specific examples of how it is taking advantage of the Internet in gen ...

The president of state university wants to forecast student

The president of State University wants to forecast student enrollment for this academic year based on the following historical data: year Enrollments 5 years ago 15,000 4 years ago 16,000 3 years ago 18,000 2 years ago ...

Who are the major stakeholders of the bank that you do

Who are the major stakeholders of the bank that you do business with locally? What are the major claims of those stakeholders? What is their mission statement and vision statement? Conduct a search and write a minimum of ...

Budget assignmentyou have been asked to prepare the

Budget Assignment You have been asked to prepare the operating budget for a 150 room hotel, with a 50 seat Coffee Shop, a 100 seat Dining Room and a 25 seat Bar. The operating budget for the year is based on the followin ...

1 at what position levels of employees is ethics an

1. At what position levels of employees is ethics an important part of decision making in a company? 2. The Foreign Corrupt Practices Act outlaws what type of business practices and how? 3. Conduct a Porter’s 5 forces an ...

Assignemntpart 1 the following information is available for

Assignemnt PART 1: The following information is available for GFI's maintenance cost over the last seven months. Use the high low method to estimate the fixed and variable components of its maintenance cost. Would this b ...

1 wellplace hospital provides you with the following

1. Wellplace Hospital provides you with the following financial statements for 20X2 and 20X1: December 31 20X2 20X1 Cash $ 168 $ 211 Temporary investments 126 34 Receivables-patients, net 1,011 893 Inventory 296 315 Prep ...

  • 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

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

Describe what you learned about the impact of economic

Describe what you learned about the impact of economic, social, and demographic trends affecting the US labor environmen