XYZ Enterprises bought ABC Enterprises by issui... - WAEC Accounting 2000 Question
XYZ Enterprises bought ABC Enterprises by issuing 30,000 ordinary shares of N1 each at a discount of 5%. The assets of ABC Enterprises are stock N18,000. Debtors N11,000. The purchase consideration was
A
N31,500
B
N30,000
C
N28,500
D
N28,000
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Correct Option: C
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