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CBSE Class 11-commerce Answered

Purchase of an ongoing business; costing assets for Rs.8,50,000 and liablities Rs.5,50,000 for a purchase consideration of  Rs.1,50,000.
Asked by Topperlearning User | 14 Jun, 2016, 10:22: AM
answered-by-expert Expert Answer
  1. Assets (Rs.8, 50,000 - Rs.1, 50,000).
    Hence, assets will increase by Rs.7, 00,000.
  2. Liabilities will increase by Rs.5, 50,000
  3. Capital = Assets - liabilities

    Capital = Rs.7, 00,000 - Rs.5, 50,000.

    Hence, capital will increase by Rs.1, 50,000.

Answered by | 14 Jun, 2016, 12:22: PM
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ANSWERED BY EXPERT ANSWERED BY EXPERT
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ANSWERED BY EXPERT ANSWERED BY EXPERT
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