Calculate the number of fresh shares issued, Accounting Basics

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Calculate the number of fresh shares issued

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

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Accounting Basics: Calculate the number of fresh shares issued

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Accounting Basics: Calculate the number of fresh shares issued

Reference No:- TGS076060

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Recent Questions Asked Accounting Basics

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Accounting Basics: Calculate the number of fresh shares issued

Reference No:- TGS076060

Recent Questions Asked Accounting Basics

Q : What is the full-employment level of nominal gdp

Q : The poem ''elegy for my father'' by james baxter here is the

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Q : Various interpersonal-informational and decisional roles

Q : Calculate the number of fresh shares issued

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Q : Four factors of production

Q : Explain free flow of goods and services to america

Q : What is the depreciation expense to be recorded

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