Blue Prints Ltd. purchased a building worth Rs. 1,50,000, Machinery worth Rs. 1,40,000 and Furniture worth Rs. 10,000 from XYZ Co. and took over its liabilities of Rs. 20,000 for a purchase consideration of Rs. 3,15,000. Calculate the Goodwill/Capital Reserve to be recorded by Blue Print Ltd.

Question

Option 1: Rs. 35,000 Capital Reserve

Option 2: Rs. 35,000 Goodwill

Option 3: Rs. 3,15,000 Goodwill

Option 4: Rs. 55,000 Goodwill

AfterBoards · Accepted Answer

The answer is 'Rs. 35,000 Goodwill'. View full solution:

CUET Accountancy 2022 20 Aug Shift 2 PYQs

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