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What are the ledger accounts and balance sheet for M/s R & Co. after amalgamation, given specific asset valuations and conditions?

Accounting

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Here are the necessary ledger accounts for M/s R & Co. and the Balance Sheet of the new firm after amalgamation.

Step 1: Calculate Purchase Consideration for M/s R & Co.
The purchase consideration is calculated based on the assets taken over and liabilities assumed by the new firm.

  • Premises (revalued as per condition a): 15,000
  • Stock (book value as per condition e): 15,000
  • Debtors (book value as per condition e): 14,000
  • Bank (book value as per condition e): 10,000
  • Cash (book value as per condition e): 3,000
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