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Question
X Ltd. purchased the following assets from Y Ltd.:
| Book Value (₹) | Agreed Value (₹) | |
| Plant and Machinery | 10,00,000 | 20% less |
| Stock | 2,50,000 | 60% more |
Payment was made 20% by Cheque and the remaining amount by equity shares of ₹10 each, ₹6 paid.
Number of equity shares issued will be:
Options
₹2,00,000
₹96,000
₹1,20,000
₹1,60,000
MCQ
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Solution
₹1,60,000
Explanation:
| ₹ | |
| Agreed Value of Plant & Machinery | 8,00,000 |
| Agreed Value of Stock: `250000 xx 160/100` | 4,00,000 |
| 12,00,000 | |
| Payment made: 20% by Cheque | 2,40,000 |
| 9,60,000 |
Number of shares issued: `960000/6`
= 1,60,000
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