Roshan Ltd agreed to absorb Richa Ltd. For this purpose Richa Ltd's 5000, 9% Preference shares are valued at ?124.50 each and 65,000 Equity shares are valued at ?32 each. If Roshan Ltd discharged purchase consideration by issuing its Equity shares of ?10 each which is having intrinsic value of ?46 each. No. of Equity shares issued by Roshan Ltd to Richa Ltd will be

The syllabus (with weightage):
A. GAAP and Accounting Standards 20%
B. Accounting of Business Combinations & Restructuring 20%
C. Consolidated Financial Statements 20%
D. Developments in Financial Reporting 25%
E. Government Accounting in India 15%