Net assets = Assets - Liabilities = (1,50,000 + 1,40,000 + 10,000) - 20,000 = 2,80,000. Purchase consideration = 3,15,000. Since PC exceeds net assets, Goodwill = 3,15,000 - 2,80,000 = 35,000. Hence Goodwill of Rs. 35,000.
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…
CUET UG 2022 — Accountancy Company Accounts
2022mcqmedium
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.
Official previous-year question
Held on 20 Aug 2022 · Verified 13 Jul 2026.
Options
- A
Rs. 35,000 Capital Reserve
- B
Rs. 35,000 Goodwill
- C
Rs. 3,15,000 Goodwill
- D
Rs. 55,000 Goodwill
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