ExamVeda
Login
Home

A public company acquired the following assets and liabilities of a...

This question belongs to Commerce Accounting
Accounting
?

A public company acquired the following assets and liabilities of a firm : Building Rs. 25,000, Machinery Rs. 15,000 Debtors Rs. 10,000, Stock Rs. 15,000 and Creditors Rs. 8,000. What will be the amount of goodwill or capital reserve if the purchase consideration of the business was Rs. 54,000.

Answer & Solution
Correct Answer: Option B
Let's discuss the solution. Join the discussion
Examveda
Question posted by Examveda
Community

Join the Discussion

No comments yet Be the first to discuss this question.
Keep Learning

Related Questions on Accounting

Accounting provides information on
A. Cost and income for managers B. Company's tax liability for a particular year C. Financial conditions of an institutions D. All of the above
The long term assets that have no physical existence but are rights that have value is known as
A. Current assets B. Fixed assets C. Intangible assets D. Investments
The assets that can be converted into cash within a short period (i.e. 1 year or less) are known as
A. Current assets B. Fixed assets C. Intangible assets D. Investments
Patents, Copyrights and Trademarks are
A. Current assets B. Fixed assets C. Intangible assets D. Investments
More Related Questions on Accounting