..............ZEBRA PLC..............
.............Balance sheet as at 31st March, 2002
...............N...............N............N......
Capital......100,000...Fixed assets:
Current................Land &..................
Liabilities...........buildings..50,000......
Creditors........30000..Furniture..10,000....60,000
.......................Current..................
.......................Assets: .......
..................Stock .........30,000...........
..................Debtors.......30,000.............
..................Cash..........10,000......70,000..
.............130,000.........................130,000
The business was acquired on 1st April, 2002 at a purchase consideration of N120,000 by SOZ. All assets and liabilities were taken over except the cash to open the new firm's bank account additional N20,000 was paid into the bank.

The goodwill on purchase is

 

Similar Questions

A debit in the suspense accounting will appear in the balance sheet as? ...

Which of the following will not affect the agreement of the cash book balance and bank statement bal...

Use the following information to answer the given question \(\begin{array}{c|c} & N \\ \hli...

PQ Manufacturing Company Raw materials (1/11/2001)...........N3 500 Raw materials (31/12/2001).....

A fixed assets fully written-down by a trader is now considered to be worth ₦5,000. The double ent...

Which of the following is found on the credit side of a profit and loss account? ...

The Akachala Limited has four department W, X Y and Z. The profits or loss of the departments were N...

Where a non-profit making organization prepares the account using accruals basis of reporting, the s...

Uche returned goods worth N1,500 to Udo. Uche should receive ...

Use the following information to answer the given question, \(\begin{array}{c|c} & N\\ \hli...