Ask Question, Ask an Expert


Ask Accounting Basics Expert


A Ltd. Obtains B Ltd.for the consideration of Rs.38,00,000 to be satisfied in form of fully paid equity shares of Rs.10 each. The balance sheets of two companies on 31st Dec.2005,the date of acquisition,were as follows:

Balance Sheet as on 31st Dec.,2005







Share capital:

Equity shares of Rs.10 each



Sundry assets



General reserve






Development rebate reserve






Export profit reserve






Profit & loss A/c






Sundry liabilities













You’re required to pass the essential journal entries in books of A Ltd.(transferee company)when combination is by way of (i) merger.Also prepare the resultant Balance Sheet supposing that the Development Rebate Reserve and Export Profit Reserve are needed to be continued.

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M910230

Have any Question? 

Related Questions in Accounting Basics

Research topic issues in revenue recognitionslater and

Research Topic: Issues in Revenue Recognition Slater and Gordon is a large law firm based in Melbourne, Australia. It is the first law firm being listed on Australian Securities Exchange. However, recently, the firm has ...

In recent years a number of companies have gone into

In recent years a number of companies have gone into liquidation (been ‘wound up') because they have not been able to meet their liabilities when they fell due. In Australia, there are some well-publicised examples such ...

4 discussion questions - intermediate accounting 20please

4 Discussion questions - Intermediate Accounting 20 Please answer each of the 4 question compounds in at least 200 words., for an 800 word total paper. Please asnwer them individually. Thank you 1. What are the differenc ...

Fundamentals of value creation in business assignment -

FUNDAMENTALS OF VALUE CREATION IN BUSINESS ASSIGNMENT - ACCOUNTING ASSIGNMENT REQUIREMENTS- The following is a list of 10 organisations/ companies, one of which will be the subject of your analysis. CODE                  ...

Practice questionscompare and contrast marginal costing and

Practice questions: Compare and contrast marginal costing and throughput accounting.

Treatment of intangible assets and impairmentsdetermine

Treatment of Intangible Assets and Impairments Determine accounting alternatives for intangibles. There are a number of differences between IFRS and U.S. GAAP for the treatment of intangible assets and impairments. The i ...

Practice questionsfarmer george tractors ltd has

Practice questions: Farmer George Tractors Ltd has £500,000 to invest. The net cash flows of two possible projects are as follows: Year Project 1 Project 2   £ £ 1 80,000 90,000 2 100,000 110,000 3 180,000 190,000 4 140, ...

Assignment - review of current accounting issuesfor this

Assignment - Review of Current Accounting Issues For this assignment assume that you are the senior accountant working for a major firm. Question 1 - The CEO has forwarded to you an interesting article and requires you t ...

Assignment questionbio-sustainable feeds bsf ltd an

ASSIGNMENT QUESTION Bio-sustainable Feeds (BSF) Ltd., an Australian bio-research firm listed on the Australian Stock Exchange (ASX), has engaged research on sustainable aqua-culture feeds for two decades. Its research on ...

Problem 1a two four-year-old companies are identical in all

Problem 1: a. Two four-year-old companies are identical in all respects except that Company A has used straight-line depreciation exclusively since inception while Company B has used double-declining balance depreciation ...

  • 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

A cola-dispensing machine is set to dispense 9 ounces of

A cola-dispensing machine is set to dispense 9 ounces of cola per cup, with a standard deviation of 1.0 ounce. The manuf

What is marketingbullwhat is marketing think back to your

What is Marketing? • "What is marketing"? Think back to your impressions before you started this class versus how you

Question -your client david smith runs a small it

QUESTION - Your client, David Smith runs a small IT consulting business specialising in computer software and techno

Inspection of a random sample of 22 aircraft showed that 15

Inspection of a random sample of 22 aircraft showed that 15 needed repairs to fix a wiring problem that might compromise

Effective hrmquestionhow can an effective hrm system help

Effective HRM Question How can an effective HRM system help facilitate the achievement of an organization's strate