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It was decided to issue a further 3000 ordinary shares at a

Question: The following was the Balance Sheet of A. Ltd. at 31st March, 1962:

It was decided to issue a further 3,000 Ordinary Shares at a premium of 10/- per share for cash and to redeem at par the Redeemable

Preference Shares. You are required to show the necessary Journal entries and to prepare a Balance Sheet after the completion of the transactions which took place on 1st April, 1962.

Re-printed by courtesy of the Association of Certified Accountants (A.C.C.A.).

Re-printed by courtesy of the Society of Incorporated Accountants (S.A.A.).

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Accounting Basics: It was decided to issue a further 3000 ordinary shares at a

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Accounting Basics: It was decided to issue a further 3000 ordinary shares at a

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