Sun Limited agreed to absorb Moon Limited on 31s* March 2016 whose summarized Balance Sheet stood as follows: 1. Equity and Liabilities 2$ (1) Shareholders' Funds (a) Share Capital : 1,20,000 shares...

Extracted text: Sun Limited agreed to absorb Moon Limited on 31s* March 2016 whose summarized Balance Sheet stood as follows: 1. Equity and Liabilities 2$ (1) Shareholders' Funds (a) Share Capital : 1,20,000 shares of $10 each fully paid 12,00,000 (b) Reserves and Surplus: General Reserve 1,50,000 (2) Non-Current Liabilities Long-term Borrowings : Secured Loan Unsecured Loan (3) Current Liabilities Sundry Creditors 1,50,000 Total Equity and Liabilities 15,00,000 II. Assets (1) Non-current Assets Fixed Assets 10,50,000 Investments (2) Current Assets Stock in Trade 1,50,000 Sundry Debtors 3,00,000 Total Assets 15,00,000 The consideration was agreed to be paid as follows: (a) A payment in cash of $5 per share in Moon Ltd. and (b) The issue of shares of $ 10 each in Sun Ltd. on the basis of two equity shares (valued at $15) and one 10% cumulative preference share (valued at $ 10) for every five shares held in Moon Ltd. The whole of the share capital consists of shareholdings in exact multiple of five except the following holding : P-174; Q-114; R-108; S-42; Other Individuals-12 (Twelve members holding one share each) It was agreed that Sun Ltd. will pay in cash for fractional shares equivalent at agreed value of shares in Moon Ltd. i.e. $65 for five shares of $50 paid. Prepare a statement showing the purchase consideration receivables in shares and cash.