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Shalini Ltd. purchased the business of Mr. Venkat. Shalini Ltd. did not take over the debtors and creditors of Mr.

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Shalini Ltd. purchased the business of Mr. Venkat. Shalini Ltd. did not take over the debtors and creditors of Mr. Venkat amounted to ₹65,000 and ₹40,000 respectively, but it promised to collect from debtors and pay to creditors. Shalini Ltd. collected ₹61,500 from debtors and paid all creditors ₹38,800. Calculate the net amount due to Mr. Venkat assuring that same set of books is continued.

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Related Book For  answer-question
Corporate Accounting

Corporate Accounting

ISBN: 9789353160739

1st Edition

Authors: Anita Raman, P. Radhika

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Question Details
Chapter # 5- ACQUISITION OF BUSINESS,,
Section: EXERCISES AND PROBLEMS
Problem: 9
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Question Posted: August 31, 2023 12:11:16
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