A ltd take over b ltd on april 01 2006 and discharges

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Reference no: EM13579910

A Ltd. take over B Ltd. on April 01, 2006 and discharges consideration for the business as follows: (i) Issued 42,000 fully paid equity shares of Rs. 10 each at par to the equity shareholders of B Ltd. (ii) Issued fully paid up 15% preference shares of Rs. 100 each to discharge the preference shareholders (Rs. 1,70,000) of B Ltd. at a premium of 10%. (iii) It is agreed that the debentures of B Ltd. (Rs. 50,000) will be converted into equal number and amount of 13% debentures of A Ltd.With Calculation if any.

Reference no: EM13579910

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