Asked by manoj
2. The ledger accounts of M Ltd. show the following balances: Rs.
14% Preference share Capital 3,00,000
Securities Premium 20,000
Investment Allowance Reserve 50,000
General Reserve 80,000
Profit and Loss Account 38,600
The company redeems preference shares at a premium of 10% by issue of equity shares of Rs. 10 each at a premium of 20%. Fresh issue of shares is made in multiples of 100 shares for such amount as is necessary after utilizing the available sources to the maximum extent.
Calculate the number of fresh shares issued and the amount transferred to capital redemption reserve account.
14% Preference share Capital 3,00,000
Securities Premium 20,000
Investment Allowance Reserve 50,000
General Reserve 80,000
Profit and Loss Account 38,600
The company redeems preference shares at a premium of 10% by issue of equity shares of Rs. 10 each at a premium of 20%. Fresh issue of shares is made in multiples of 100 shares for such amount as is necessary after utilizing the available sources to the maximum extent.
Calculate the number of fresh shares issued and the amount transferred to capital redemption reserve account.
Answers
Answered by
Writeacher
Your questions aren't posting because you're trying to copy and paste. Please type in your specific questions (not just your assignment, please).
Answered by
avi
The ledger accounts of M Ltd. show the following balances: Rs.
14% Preference share Capital 3,00,000
Securities Premium 20,000
Investment Allowance Reserve 50,000
General Reserve 80,000
Profit and Loss Account 38,600
The company redeems preference shares at a premium of 10% by issue of equity shares of Rs. 10 each at a premium of 20%. Fresh issue of shares is made in multiples of 100 shares for such amount as is necessary after utilizing the available sources to the maximum extent.
Calculate the number of fresh shares issued and the amount transferred to capital redemption reserve account
14% Preference share Capital 3,00,000
Securities Premium 20,000
Investment Allowance Reserve 50,000
General Reserve 80,000
Profit and Loss Account 38,600
The company redeems preference shares at a premium of 10% by issue of equity shares of Rs. 10 each at a premium of 20%. Fresh issue of shares is made in multiples of 100 shares for such amount as is necessary after utilizing the available sources to the maximum extent.
Calculate the number of fresh shares issued and the amount transferred to capital redemption reserve account
There are no AI answers yet. The ability to request AI answers is coming soon!
Submit Your Answer
We prioritize human answers over AI answers.
If you are human, and you can answer this question, please submit your answer.