A business whose assets consisted of stock N15,000 and debtors N8,000 was bought by issuing 20,000 ordinary shares of N1 each at a premium of 20 percent.

The purchase consideration was

Similar Questions

Ajijola Enterprises bought 40 pairs of shoes at N45 each from Kabi Shoe Factory on credit. This tran...

Net profit of a sole proprietor is transferred to the ...

Where there is provision for depreciation account, fixed assets must be shown in the Balance Sheet a...

The production cost of a manufacturing firm is made up of  ...

The accounting concept that assumes that a business will continue operating for an indefinite period...

The movement of goods from head office to a branch is treated in the head office as ...

At the end of trading period, cost of goods sold is debited to the trading account while cost of ser...

Which of the following does not relate to a manufacturing concern? ...

Which of the following is accounted for in receipts and payment account? ...

The concept that states that a business should not lay claim to any profits before it is earned with...