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Question
Kewal Ltd. purchased sundry assets from Ganpati Ltd. for ₹ 28,60,000. The amount was paid by issuing fully paid shares of ₹ 100 each issued at a premium of 10%. The number of shares issued to Ganpati Ltd. were ______.
Options
₹ 28,000
₹ 31,778
₹ 28,600
₹ 26,000
MCQ
Fill in the Blanks
Solution
Kewal Ltd. purchased sundry assets from Ganpati Ltd. for ₹ 28,60,000. The amount was paid by issuing fully paid shares of ₹ 100 each issued at a premium of 10%. The number of shares issued to Ganpati Ltd. were ₹ 26,000.
Explanation:
No. of shares issued
= `(28,60,000)/(100 + 10)`
= `(28,60,000)/(110)`
= 26,000 shares
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