Q14: The following are the Condensed statement of Financial Position of Company A and on december31,2020.AВCurrent Assets.25625007639375Plant and Equipment76850022918125Current liability555000300,000long Term Debt.2220000.500,000Share Premium1250,000100,000Retained Earning.1609000.425000Additional Paid-in1516000.437500Сapital79Company C acquires the Net Asset of Both A and B. Paying Cash in Amount of 185000 and by issuing198500 shares to A, Paying of 72000 and by issuing 54350 shares is 30 to B' Par cash in the amount byissuing 54350 Shares value of Share is 30 and market value on acquisition is 40.Requirments:a) Entry that made in the Book of A.b) Entry that made in the Book of B.c) Entry that made in the Book of C.

Company C's acquired net assets from the A and B. this called Amalgamation of the company. In an…

Company C acquires the Net Asset of Both A and B. Paying Cash in Amount of 185000 and by issuing 198500 shares to A, Paying of 72000 and by issuing 54350 shares is 30 to B' Par cash in the amount by issuing 54350 Shares value of Share is 30 and market value on acquisition is 40. Requirments: a) Entry that made in the Book of A. b) Entry that made in the Book of B. c) Entry that made in the Book of C.

Company C acquires the Net Asset of Both A and B. Paying Cash in Amount of 185000 and by issuing 198500 shares to A, Paying of 72000 and by issuing 54350 shares is 30 to B' Par cash in the amount by issuing 54350 Shares value of Share is 30 and market value on acquisition is 40. Requirments: a) Entry that made in the Book of A. b) Entry that made in the Book of B. c) Entry that made in the Book of C.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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