The purchase consideration that is lower than the net ass...
The purchase consideration that is lower than the net asset implies that, the buyer has gained the advantage of
Net income
Revenue reserve
Capital reserve
Net loss
Correct answer is C
Capital reserve is derived from the accumulated capital surplus of a company, created out of capital profit.
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Nwoye buys stock and pays by cheque. The entries in the books of Nwoye is Debit ...
Given: Opening capital - #1,500 Capital introduced - # 500 Profit for the year - # 800 Cash draw...
Zazzau Company: Cash in hand................N50 Cash in bank................N1,250 Stock..........