PLEASE SOLVE MY QUESIOTN - I NEED URGENT SOLUTION

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Ledget of A Ltd is as follows:

14% Pref. Share Capital  Rs. 3,00,000

Securities Premium Rs. 20,000

Investement allowance reserve Rs. 50,000

G/R Rs. 80,000

P/L A/c Rs. 38,600

The company redeems prefernce share at a premium 10% by issue of equity shares of Rs. 10 each at a premium of 20%. Fresh Issue is made on multiple of 100 shares  for such amount as is necessary after utilizing the available sources of the max. extent

Calculate Number of fresh shares issued and the amount transferred to Capital Redemption Reserve...

 

PLEASE SOLVE THIS I NEED URGENT SOLUTION...

Replies (3)

Amount of shares to  be issued

face value of preference shares to be reedemed= Rs300000

Less : General Reserve                                           = Rs 80000

Amount of Equity shares to be issued                               = Rs 220000

No of  shares = 220000/10= 22000 Shares

Security Premium = Rs. 22000*2= Rs44000

Amount to be transfered to Capital Redemption reserve = Rs80000

 

 

 

 

 

 

 

 

 

 

Thanks for the solution..

My doubt is this, can i transfer the amount to Capital Redumption resert from G/R and P/L A/c to the extent available

QUERIES FOR PAYMENT OF BONUS ACT - 

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  6. Mayank,an employee, was suspended for an alleged misconduct. an inquiry was conducted and the charges against him could not be proved. As a result, he was reinstated with full beck wasges. The employee was, however, not paid bonus for the period of suspension. Can he challenge the employer's action?


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