The following is the Balance Sheet of Small Ltd. As on 31st March,2014.

Liabilities $. Assets $.

2,00,000 Equity Shares of $

10 each 20,00,000 Fixed Assets 12,00,000

Current Liabilities 5,00,000 Investment 30,000

Cash at Bank 20,000

Other Current Assets 10,50,000

profit & Loss A/C 2,00,000

25,00,000 25,00,000

Big Ltd agrees to purchase Small Ltd take over all assets and liabilities with the following

conditions:

a. Fixed assets @ 90% value, Other Current assets include stock of 350000 and Debtors $ 600000. Stock is valued at $ 325000. Out of Debtors, a customer who has to pay 2,20,000 agreed to pay only 45% and another customer due of $75000 become bad debts. Remaining stock and debtors are at book value. Cash is taken at book value.

b. Current liabilities include a supplier to whom 300000 due is agreed to settle at 5% discount and another supplier of $ 100000 charged interest @ 5% p.a for the delay payment period of 15 months.

The Purchase consideration is Cash $ 2,00,000 and the allotment of sufficient number of

shares of $ 10 each valued at $ 12.50 each. Find the Purchase consideration payable and also

the no. of Equity shares given to Small Ltd.