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Question
What journal entry will be passed when purchase consideration is equal to net assets while purchasing business from vendor:
Options
Sundry Assets A/c Dr.
Goodwill A/c Dr.
To Vendor's A/cSundry Assets A/c Dr.
To Capital Reserve A/c
To Vendor's A/cSundry Assets A/c Dr.
To Sundry Liabilities A/c
To Vendor's A/cCapital Reserve A/c Dr.
To Vendor's A/c
MCQ
Solution
Sundry Assets A/c Dr.
To Sundry Liabilities A/c
To Vendor's A/c
shaalaa.com
Issue of Debentures for Consideration Other than Cash
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