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2

QP Codę : 13839

2. Following is the Suramariscd Balancc Sheet of Karlik Ltd. as on 3 lst March 2015    15

Liabilitics	Rs.	Assets	Rs
Equiry Sharc Capital (Rs.lO cach) (jenerał Reservc	10,00.000 20.000	Intangiblc Assets Tangible Fixed Assct Currcnt Assets	1,00,000 8.40.000 2.20.000
		Profit & Loss A/c	1,60.000
Debenturcs	2,00,000	(Dr. Balancc)
Creditors	1,00,000
	13,20.000		13,20,000

On thc above datc, Ganesh Ltd agrccd tolakc ovcr thc business Karlik Ltd.,cn thc following terms:

1.    The intangiblc assets, tangible fixcd assets & currcnt asscts of Kartik Ltd. are taken over at Rs. 10,00,000. The liabilitics (including Debenturcs) arc taken ovcr at book value.

2.    The purchase pricc is to bc paid one- quarter in cash and the balance in cquity shares of Rs. 10 cach at par.

3.    Liquidation cxpcnsss amounted to Rs. 600, agreed to be paid by Kartik Ltd.

4.    The tukę ovcr is in thc naturę of purchase.

You arc rcąuired to :

(a)    Calculatc Purchase Considcration &

(b)    Preparc necessary Ledgcr accounts to close the books of Kartik Ltd.

OR

2. Ram Ltd. took over tlie business of Ravan Ltd. as on lst Apri! 2025 at book valuc.

Following is the summariscd Balancc Sheet of Ravan Ltd. as on 31/3/2015.    15

Liabilities	Rs.	Assets	Rs
40,000 Equity Shares of Rs. 10/- each Rcserves & Surplus Creditors Bills payablc	4.00. 000 3.00. 000 50.000 50.000	Plant & Machinery Furniture & I^;ixture: Invcstments Stock Dcbtors Cash & Bank Balance Prcliminaiy Expcnscs	2.50.000 2.25.000 1,00,000 50.000 1.00,000 25.000 50.000
	8,00,000		8,00,000

Hl-Con. 1888-15.