The following are the balance sheet of X Ltd. And Y Ltd., as on 31 st march 2005 Liabilities Rs. Rs. Assets Rs. Rs. Share capital Equity shares of Rs.10 14 % preference shares of Rs.100 General reserve Export profit Reserve (required under Income Tax Act) Investment Allowance Reserve (statutory) P & L A/c 13% debentures of Rs.100 Trade creditors Other current liabilities   50,00,000 22,00,000 5,00,000 3,00,000   --     7,50,000 5,00,000 4,00,000 2,00,000   30,00,000 17,00,000 -- 2,50,000   2,00,000     1,00,000 5,00,000 3,50,000 1,50,000 Land & building Plant& machinery Furniture & fittings Investments Stock Sundry debtors Cash and Bank   25,00,000 32,50,000 5,75,000 7,00,000 12,50,000 9,00,000 7,25,000 15,50,000 17,00,000 3,50,000 5,00,000 9,50,000 10,30,000 5,20,000   99,00,000 66,00,000   99,00,000 66,00,000 XY Ltd., is formed to take over X Ltd. and Y Ltd., for the following consideration. X Ltd. Issue of 4,80,000 equity shares of Rs.10 each of XY Ltd. At Par to the equity shareholders. Issue of 15% preference shares of Rs.100 each of XY Ltd. To discharge the preference shareholders of X Ltd. At 10% premium. Y Ltd. Issue of 3,50,000 equity shares of Rs.10 each of XY Ltd. At Par to the equity shareholders. Issue of 15% preference shares of Rs.100 each of XY Ltd. To discharge the preference shareholders of Y Ltd. At 10% premium. The debentures of X Ltd., and Y Ltd.,  Will be converted into equivalent number of debentures of XY Ltd. The statutory reserves are to be maintained for two more years. Close the books of X Ltd. And Y Ltd. And show the opening entries and balance sheet of XY ltd. On the assumption that the amalgamation is in the nature of merger.

Tamarisk Corp. carries an account in its general ledger called Investments, which contained debits for investment purchases, and no credits, with the following descriptions. F-b. 1.2025 July 1 (a) (5) Sharapova Company common stock, $100 par, 200 shares U.S. government bonds, 11%, due April 1, 2035, interest payable April 1 and October 1, 108 bonds of 31000 par cách McGrath Company 12% bonds, par $54,100, dated March 1, 2025, purchased at 104 plus accrued interest, interest payable annually on March 1, due March 1, 2045 Your answer is partially correct. Prepare the entry to record the accrued interest and the amortization of premium on December 31, 2025, using the straight-line method. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. Ifna entry is required, select "No Entry for the account titles and enter Ofor the amounts. Round answers to 0 decimal places. 5.19251 Date Account Titles and…

Note: RP AND IDR The book I use: Intermediate Accounting, Kieso, ifrs Edition, Fourth Edition Questions in image

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