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Byoblemn No 7:, The following is the Balance Sheet of A Co. Ltd., as on 31", , Liabilities, Share Capital, 25,000 Shares of Rs. 10 each, fully paid, Generai Reserve, P&LAI, Workmen’s Compensation, Fund, Creditors, , , , , , , , , , , , , , , Land and Buildings, Goodwill, , Plant & Machinery, Stock ; es,, Debtors 45,000, Less : Reserve for, , Doubtful debts 3,000 |, , Cash at Bank 8,, , | B Co. Ltd. took over the business of A Co. Ltd. for Rs. 3,35,000 to be payable in 30,000 shares of Rs. 10:, fully paid and the balance in cash. Since there was a dispute of a claim under Workmen’s Compensation, , ted by B company Ltd., ultimately A Co. Ltd, had to pay Rs. |, , , , , , , , , , , , , , , , , regarding compensation, the claim was not accep, , , , , , , , , , , , , , , 5,000 therefore., The Balance Sheet of B Co. Ltd., as on the above date was as under :, Liabilities i Assets, Share Capital Land & Buildings, 50,000 Shares of Rs. 10 each Goodwill, Fully paid 5,00,000 | Plant & Machinery, General Reserve 50,000 | Stock, , Debtors, Cash at Bank, , , , , , 6% Debentures, , P&LAIC | 25,000, Creditors, , , , 000, id, amounting to Rs. 2,500 were paid by the B Co. Ltd. 1], , Liquidation expenses of A Co. L, and consolidated Balance Sheet of B Co. Ltd., , entries in the books of A Co. Ltd.