Question:
Kewal Ltd. purchased sundry assets from Ganpati Ltd. for Rs.28,60,000. The amount was paid by issuing fully paid shares of Rs.100 each issued at a premium of 10%.
The number of shares issued to Ganpati Ltd. were:
Kewal Ltd. purchased sundry assets from Ganpati Ltd. for Rs.28,60,000. The amount was paid by issuing fully paid shares of Rs.100 each issued at a premium of 10%.
The number of shares issued to Ganpati Ltd. were:
The number of shares issued to Ganpati Ltd. were:
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Always include the premium in the issue price when calculating the number of shares to be issued.
Updated On: Jan 29, 2025
- 28,000
- 31,778
- 28,600
- 26,000
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The Correct Option is D
Solution and Explanation
The issue price of each share includes the face value and premium:
\[
{Issue Price} = Rs.100 + 10\% { of } Rs.100 = Rs.110.
\]
Step 1: Calculate the number of shares issued:
The total value of assets purchased is Rs.28,60,000. The number of shares issued is calculated by dividing the total amount by the issue price: \[ {Number of Shares} = \frac{ {Total Amount}}{ {Issue Price}} = \frac{Rs.28,60,000}{Rs.110}. \] Step 2: Perform the division:
\[ {Number of Shares} = \frac{Rs.28,60,000}{Rs.110} = 26,000 { shares}. \] Conclusion:
The number of shares issued to Ganpati Ltd. is \( 26,000 \).
The total value of assets purchased is Rs.28,60,000. The number of shares issued is calculated by dividing the total amount by the issue price: \[ {Number of Shares} = \frac{ {Total Amount}}{ {Issue Price}} = \frac{Rs.28,60,000}{Rs.110}. \] Step 2: Perform the division:
\[ {Number of Shares} = \frac{Rs.28,60,000}{Rs.110} = 26,000 { shares}. \] Conclusion:
The number of shares issued to Ganpati Ltd. is \( 26,000 \).
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