The solution to Question number 44 of the Accounting for Share Capital chapter of TS Grewal Book 2025-26 Edition
Surya Ltd. took over assets of ₹ 40,00,000 and liabilities of ₹ 7,50,000 of Moon Ltd. Surya Ltd. paid the purchase consideration by issuing 17,600; 10% Preference Shares of ₹ 100 each at a premium of 25% and ₹ 12,00,000 by Bank Draft. Calculate purchase consideration and pass the necessary Journal entries in the book of Surya Ltd.
[Ans.: Purchase Consideration – ₹ 34,00,000; Goodwill – ₹ 1,50,000.]
Solution:-
