ABC Ltd. has decided to redeem its preference shares, at a premium of 5%, with the following details, as on 31st December 2018. Share Capital: Rs. 10,000 Equity Shares of Rs. 100 each 10,00,000 1,50,000 7% Redeemable Preference Shares of Rs. 10 each 15,00,000 General Reserve 5,00,000 Capital Reserve 2,50,000 Profit & Loss A/c 13,75,000 Give journal entries to record the above transaction.

ABC Ltd. has decided to redeem its preference shares, at a premium of 5%, with the following details, as on 31st December 2018. Share Capital: Rs. 10,000 Equity Shares of Rs. 100 each 10,00,000 1,50,000 7% Redeemable Preference Shares of Rs. 10 each 15,00,000 General Reserve 5,00,000 Capital Reserve 2,50,000 Profit & Loss A/c 13,75,000 Give journal entries to record the above transaction.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Please answer i, ii ,iii. Thanks
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Please answer numbers 16 and 17:
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