Tagore Ltd. purchased a running business from Tulsi Bros. for a sum of ₹ 60,00,000 payable by the issue of fully paid equity shares of ₹ 20 each at a premium of 50%
Tagore Ltd. purchased a running business from Tulsi Bros. for a sum of ₹ 60,00,000 payable by the issue of fully paid equity shares of ₹ 20 each at a premium of 50%. The assets and liabilities consisted of the following:
| Book Value (₹) | Agreed Value (₹) | |
| Plant and Machinery | 40,00,000 | 30,00,000 |
| Stock | 15,00,000 | 19,70,000 |
| Sundry Debtors | 10,00,000 | subject to Provision for Doubtful Debts @ 5% |
| Sundry Creditors | 3,00,000 | 3,00,000 |
Anurag Pathak Answered question October 9, 2024
