44 :- Surya Ltd. Took over assets of Rs 40,00,000 and Liabilities of Rs 7,50,000 of Moon Ltd. Surya Ltd. Paid the purchase consideration by issuing 17,600; 10% Preference Shares of Rs 100 each at a premium of 25% and Rs 12,00,000 by Bank Draft. Calculate purchase consideration and pass the necessary Journal entries in the Books of Surya Ltd.
Solution :-
