the capital structure of the company consist of 20000 equity share of

1.	the capital structure of the company consist of 20000 equity share of rs 10 each fully paid up and 1000 8% preference shares of rs 100 each fully paid up. general reserve rupees 80000 profit and lose account rupees 10000 investment allowance reserve rupees 10000( out of which rupees 5000 is not free for distribution as dividend) securities premium rupees 12000 and the had cash in bank rupees 98000.the preference shares were to be redeemed at a premium of 10% the director of the company decided to make fresh issue of equity share at par after utilizing the undistributed reserve and surplus subject to the condition that rupees 20000 should be retain in the general reserve and it should be utilised. pass journal entries for redemption of preference share?
Answer» ANSWER: The capital STRUCTURE of a COMPANY consists of 20,000 Equity Shares of `10 each fully PAID up and 1,000 8% REDEEMABLE Preference Shares

the capital structure of the company consist of 20000 equity share of rs 10 each fully paid up and 1000 8% preference shares of rs 100 each fully paid up. general reserve rupees 80000 profit and lose account rupees 10000 investment allowance reserve rupees 10000( out of which rupees 5000 is not free for distribution as dividend) securities premium rupees 12000 and the had cash in bank rupees 98000.the preference shares were to be redeemed at a premium of 10% the director of the company decided to make fresh issue of equity share at par after utilizing the undistributed reserve and surplus subject to the condition that rupees 20000 should be retain in the general reserve and it should be utilised. pass journal entries for redemption of preference share?

Answer»

The capital STRUCTURE of a COMPANY consists of 20,000 Equity Shares of `10 each fully PAID up and 1,000 8% REDEEMABLE Preference Shares

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