Question

Newfound Ltd took over business of Old land Itd and paid for it by issue of 30,000, Equity Shares of 100 each at a par along with 6% Preference Shares of 1,00,00,000 at a premium of 5% and a cheque of 78,00,000. What was consideration payable to Old Land Itd. the total agreed purchase

Answer 1

Explanation:

refer to the Attachment