B Com Exam > B Com Questions > Gamma Limited took over the partnership firm ...
Start Learning for Free
Gamma Limited took over the partnership firm by using 10,000 equity share of rupees 10 each at park 5000 at 30% preference share of rupees 10 each at 10% premium 708 12% debenture of rupees hundred each at 10% discount and balance in cash Kamal Limited took over net assets at an agreed value of rupees 250000 determine the amount of cash paid by Gamma Limited?
Most Upvoted Answer
Gamma Limited took over the partnership firm by using 10,000 equity sh...
Amount of Cash Paid by Gamma Limited
Gamma Limited took over the partnership firm by using the following:
- 10,000 equity shares of Rs. 10 each at par = Rs. 100,000
- 30% preference shares of Rs. 10 each at 10% premium = Rs. 39,000 (30% of 10,000 shares = 3,000 shares x Rs. 10 + 10% premium)
- 12% debentures of Rs. 100 each at 10% discount = Rs. 1,08,000 (12% of Rs. 1,00,000 = Rs. 12,000 x 0.9)
- Balance in cash = ?
Kamal Limited took over net assets at an agreed value of Rs. 2,50,000. To find the amount of cash paid by Gamma Limited, we need to first calculate the total consideration paid by Gamma Limited, which is as follows:
- Equity Shares = Rs. 1,00,000
- Preference Shares = Rs. 39,000
- Debentures = Rs. 1,08,000
- Net Assets taken over by Kamal Limited = Rs. 2,50,000
Total Consideration Paid by Gamma Limited = Rs. 4,97,000
Now, to find the amount of cash paid by Gamma Limited, we subtract the total consideration paid from the total value of assets taken over, which is:
- Total Value of Assets taken over = Rs. 5,00,000
Therefore, the amount of cash paid by Gamma Limited is:
- Amount of Cash Paid = Total Value of Assets taken over - Total Consideration Paid
- Amount of Cash Paid = Rs. 5,00,000 - Rs. 4,97,000
- Amount of Cash Paid = Rs. 3,000
Explanation
Gamma Limited took over the partnership firm by using a combination of equity shares, preference shares, debentures, and cash. The net assets of the partnership firm were taken over by Kamal Limited at an agreed value of Rs. 2,50,000. To determine the amount of cash paid by Gamma Limited, we first calculated the total consideration paid by them, which included the value of equity shares, preference shares, debentures, and net assets taken over by Kamal Limited. We then subtracted the total consideration paid from the total value of assets taken over to arrive at the amount of cash paid by Gamma Limited.
Gamma Limited took over the partnership firm by using the following:
- 10,000 equity shares of Rs. 10 each at par = Rs. 100,000
- 30% preference shares of Rs. 10 each at 10% premium = Rs. 39,000 (30% of 10,000 shares = 3,000 shares x Rs. 10 + 10% premium)
- 12% debentures of Rs. 100 each at 10% discount = Rs. 1,08,000 (12% of Rs. 1,00,000 = Rs. 12,000 x 0.9)
- Balance in cash = ?
Kamal Limited took over net assets at an agreed value of Rs. 2,50,000. To find the amount of cash paid by Gamma Limited, we need to first calculate the total consideration paid by Gamma Limited, which is as follows:
- Equity Shares = Rs. 1,00,000
- Preference Shares = Rs. 39,000
- Debentures = Rs. 1,08,000
- Net Assets taken over by Kamal Limited = Rs. 2,50,000
Total Consideration Paid by Gamma Limited = Rs. 4,97,000
Now, to find the amount of cash paid by Gamma Limited, we subtract the total consideration paid from the total value of assets taken over, which is:
- Total Value of Assets taken over = Rs. 5,00,000
Therefore, the amount of cash paid by Gamma Limited is:
- Amount of Cash Paid = Total Value of Assets taken over - Total Consideration Paid
- Amount of Cash Paid = Rs. 5,00,000 - Rs. 4,97,000
- Amount of Cash Paid = Rs. 3,000
Explanation
Gamma Limited took over the partnership firm by using a combination of equity shares, preference shares, debentures, and cash. The net assets of the partnership firm were taken over by Kamal Limited at an agreed value of Rs. 2,50,000. To determine the amount of cash paid by Gamma Limited, we first calculated the total consideration paid by them, which included the value of equity shares, preference shares, debentures, and net assets taken over by Kamal Limited. We then subtracted the total consideration paid from the total value of assets taken over to arrive at the amount of cash paid by Gamma Limited.
|
Explore Courses for B Com exam
|
|
Similar B Com Doubts
Gamma Limited took over the partnership firm by using 10,000 equity share of rupees 10 each at park 5000 at 30% preference share of rupees 10 each at 10% premium 708 12% debenture of rupees hundred each at 10% discount and balance in cash Kamal Limited took over net assets at an agreed value of rupees 250000 determine the amount of cash paid by Gamma Limited?
Question Description
Gamma Limited took over the partnership firm by using 10,000 equity share of rupees 10 each at park 5000 at 30% preference share of rupees 10 each at 10% premium 708 12% debenture of rupees hundred each at 10% discount and balance in cash Kamal Limited took over net assets at an agreed value of rupees 250000 determine the amount of cash paid by Gamma Limited? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about Gamma Limited took over the partnership firm by using 10,000 equity share of rupees 10 each at park 5000 at 30% preference share of rupees 10 each at 10% premium 708 12% debenture of rupees hundred each at 10% discount and balance in cash Kamal Limited took over net assets at an agreed value of rupees 250000 determine the amount of cash paid by Gamma Limited? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Gamma Limited took over the partnership firm by using 10,000 equity share of rupees 10 each at park 5000 at 30% preference share of rupees 10 each at 10% premium 708 12% debenture of rupees hundred each at 10% discount and balance in cash Kamal Limited took over net assets at an agreed value of rupees 250000 determine the amount of cash paid by Gamma Limited?.
Gamma Limited took over the partnership firm by using 10,000 equity share of rupees 10 each at park 5000 at 30% preference share of rupees 10 each at 10% premium 708 12% debenture of rupees hundred each at 10% discount and balance in cash Kamal Limited took over net assets at an agreed value of rupees 250000 determine the amount of cash paid by Gamma Limited? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about Gamma Limited took over the partnership firm by using 10,000 equity share of rupees 10 each at park 5000 at 30% preference share of rupees 10 each at 10% premium 708 12% debenture of rupees hundred each at 10% discount and balance in cash Kamal Limited took over net assets at an agreed value of rupees 250000 determine the amount of cash paid by Gamma Limited? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Gamma Limited took over the partnership firm by using 10,000 equity share of rupees 10 each at park 5000 at 30% preference share of rupees 10 each at 10% premium 708 12% debenture of rupees hundred each at 10% discount and balance in cash Kamal Limited took over net assets at an agreed value of rupees 250000 determine the amount of cash paid by Gamma Limited?.
Solutions for Gamma Limited took over the partnership firm by using 10,000 equity share of rupees 10 each at park 5000 at 30% preference share of rupees 10 each at 10% premium 708 12% debenture of rupees hundred each at 10% discount and balance in cash Kamal Limited took over net assets at an agreed value of rupees 250000 determine the amount of cash paid by Gamma Limited? in English & in Hindi are available as part of our courses for B Com.
Download more important topics, notes, lectures and mock test series for B Com Exam by signing up for free.
Here you can find the meaning of Gamma Limited took over the partnership firm by using 10,000 equity share of rupees 10 each at park 5000 at 30% preference share of rupees 10 each at 10% premium 708 12% debenture of rupees hundred each at 10% discount and balance in cash Kamal Limited took over net assets at an agreed value of rupees 250000 determine the amount of cash paid by Gamma Limited? defined & explained in the simplest way possible. Besides giving the explanation of
Gamma Limited took over the partnership firm by using 10,000 equity share of rupees 10 each at park 5000 at 30% preference share of rupees 10 each at 10% premium 708 12% debenture of rupees hundred each at 10% discount and balance in cash Kamal Limited took over net assets at an agreed value of rupees 250000 determine the amount of cash paid by Gamma Limited?, a detailed solution for Gamma Limited took over the partnership firm by using 10,000 equity share of rupees 10 each at park 5000 at 30% preference share of rupees 10 each at 10% premium 708 12% debenture of rupees hundred each at 10% discount and balance in cash Kamal Limited took over net assets at an agreed value of rupees 250000 determine the amount of cash paid by Gamma Limited? has been provided alongside types of Gamma Limited took over the partnership firm by using 10,000 equity share of rupees 10 each at park 5000 at 30% preference share of rupees 10 each at 10% premium 708 12% debenture of rupees hundred each at 10% discount and balance in cash Kamal Limited took over net assets at an agreed value of rupees 250000 determine the amount of cash paid by Gamma Limited? theory, EduRev gives you an
ample number of questions to practice Gamma Limited took over the partnership firm by using 10,000 equity share of rupees 10 each at park 5000 at 30% preference share of rupees 10 each at 10% premium 708 12% debenture of rupees hundred each at 10% discount and balance in cash Kamal Limited took over net assets at an agreed value of rupees 250000 determine the amount of cash paid by Gamma Limited? tests, examples and also practice B Com tests.
|
|
Explore Courses for B Com exam
|
|
Suggested Free Tests
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup