Pass journal entries to record the following transactions in the books of XY Ltd. Name of the
Question:
Pass journal entries to record the following transactions in the books of XY Ltd.
Transcribed Image Text:
Name of the Purchasing Company: Name of the Vendor: Purchase price: Mode of payment of purchase price: Value of assets taken over: Liabilities taken over: XY Ltd. Raman *2,15,000 10,000 equity shares of 10 each at a Premium of 2 and balance in cash. *2,60,000 €30,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (2 reviews)
To record the purchase of assets from Raman by XY Ltd you would need to make the ...View the full answer
Answered By
User l_998468
I have extensive tutoring experience, having worked as a private tutor for over three years. I have tutored students from different academic levels, including high school, undergraduate, and graduate levels. My tutoring experience has taught me to be patient, attentive to student needs, and effective in communicating difficult concepts in simple terms.
I have a strong background in statistics, probability theory, data analysis, and data visualization. I am proficient in using statistical software such as R, Python, and SPSS, which are commonly used in academic research and data analysis. Additionally, I have excellent communication and interpersonal skills, which enable me to establish rapport with students, understand their learning styles, and adapt my teaching approach to meet their needs.
I am passionate about teaching and helping students achieve their academic goals.
0.00
0 Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Prepare the journal entries to record the following transactions on Sheridan Company?s books using a perpetual inventory system. Prepare the journal entries to record the following transactions on...
-
Mcpies International Limited manufactures expensive cars in Japan and then exports some cars to sell in Australia. John Automotive in Australia is currently handling the dealership across Australia...
-
Prepare the journal entries to record the following transactions on Sunland Company's books using a perpetual inventory system. (If no entry is required, select "No Entry" for the account titles and...
-
How do business plan for successful import and export activity?
-
Mason owns a passive activity that generates a loss of $14,000 in 2010, $12,000 in 2011, and income of $4,000 in 2012. In 2011, Mason purchases a second passive activity that has passive income of...
-
How did Ryan Smith determine whether his company needed a mechanistic structure with a tall vertical hierarchy or an organic one involving free-flowing partnerships?
-
You are given three bars of metal. Two of them are magnets, and the third is made of a magnetic material but is not magnetized. Describe how, using only the three bars, you could determine which of...
-
The HRZ Company maintains a perpetual inventory system. Clerks in the accounting department post the data manually from receiving reports; materials requisition forms, copies of purchase orders, and...
-
12. If the velocity-time graph has the shape AMB, what would be the shape of the corresponding acceleration-time graph? (A) a (B) (C) A (D) a A M B time(t)
-
All ____________ liabilities are taken over by the purchasing company.
-
True and False. The difference has to be credited to goodwill A/c, when the value of net assets is less than the purchase price.
-
A passive solar house that is losing heat to the outdoors at 5C at an average rate of 50,000 kJ/h is maintained at 22C at all times during a winter night for 10 h. The house is to be heated by 50...
-
Create a customer retention strategy for an organisation of your choice.
-
You have acquired some knowledge about integrated marketing frameworks. Using one of these frameworks, take an organisation of your choice and produce an integrated marketing plan that addresses all...
-
A dog food supplier decides to use a door drop knock and drop programme to distribute 2 million coupons nationwide. Explain what media alternatives it should have also considered, and assess whether...
-
A leading, upmarket credit card brand is considering the use of incentives within a direct marketing strategy in order to acquire more new customers. Debate the pros and cons of this move.
-
The Institute of Direct and Digital Marketing argues that accountability and control are two cornerstones of direct marketing. These are internal management benefits. Others argue that it is direct...
-
1. How did Intels Pat McDonald build social capital with the social skills listed in Table 10-1? 2. What evidence of stage 5 in Tuckmans group development model can you find in Pat McDonalds handling...
-
At 31 December 20X9, the end of the annual reporting period, the accounts of Huron Company showed the following: a. Sales revenue for 20X9, $ 2,950,000, of which one- quarter was on credit. b....
-
Hammer Ltd. and Grace Ltd. propose to amalgamate. The Balance Sheets of Hammer Ltd. and Grace Ltd. as on 31st December, 2015 are given below: Balance Sheets of Hammer Ltd. and Grace Ltd. as at 31st...
-
The Balance Sheet of ABC Co. Ltd. discloses the following financial position as at 31.12.2015: I. EQUITY AND LIABILITIES (1) Shareholders' Funds: (a) Share Capital (b) Reserves and Surplus - General...
-
Goodwill may be classified as either internally generated or purchased. How should goodwill be dealt with in financial statements? A. Only purchased goodwill should be recognized B. Only internally...
-
Apple Inc CONSOLIDATED STATEMENT OF OPERATIONS - Vertical Analysis (In millions, except number of shares which are reflected in thousands and per share amounts) NET SALES: Sept. 30 2023 Percentage...
-
2. During 2023, Bobby Brady rented his vacation home for 75 days and stayed in his vacation home for 25 days. Gross rental income from the property was $8,200. Bobby incurred the following expenses:...
-
Write the given system as a matrix equation and solve by using the inverse coefficient matrix. Use a graphing utility to perform the necessary calculations. 17x1 13x1 - + 28x3 = 12 20x2 + 50x3 = 22...
Study smarter with the SolutionInn App