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...
CAclubindia
