A company having free reserves of 1,20,000 wants to redeem 4,00,000 preference shares. Calculate the face value
Question:
A company having free reserves of ₹1,20,000 wants to redeem ₹4,00,000 preference shares. Calculate the face value of fresh issue of shares of ₹10 each to be made at a premium of 10%.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (3 reviews)
To calculate the face value of the fresh issue of shares we need to determine the number of shares t...View the full answer
Answered By
Saleem Abbas
Have worked in academic writing for an a years as my part-time job.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Determine the transfer function from U(s) to Y(s) for the following block diagram. Provided are some recommended steps to take: a. Label each signal (line with arrow) b. Write the equation for each...
-
You are the newly appointed auditor of Utopia Ltd and have been presented with this statement of financial position: Utopia Ltd NOTES TO THE FINANCIAL STATEMENTS OF 30 SEPTEMBER 20x6 1 Accounting...
-
The draft statement of financial position of Telin plc at 30 September 20X5 was as follows: Preference shares of the company were originally issued at a premium of 2p per share. The directors of the...
-
A projectile launcher fires a marble of mass 2 5 grams perfectly vertical. The launcher uses a spring with a constant, k , of 6 0 . 0 Newtons / meter . If the spring is depressed 1 5 centimeters and...
-
Arlene is a lawyer. She begins the current year with $12,000 in accounts receivable from customers. During the year, she bills customers $210,000 in fees and receives $180,000 in payments on account....
-
A discussion of how Freudian and Neo-Freudian theories attempt to address these problems. A discussion of how medical monitoring and empirical research have supported Freud's drive theory. A...
-
What was WorldCom's main fraud strat- egy? a. Moving expenses into asset accounts b. Bill-and-hold strategy c. Big bath d. Channel stuffing e. Cookie-jar reserves
-
Jarden Company has credit sales of $ 3.6 million for year 2013. On December 31, 2013, the companys Allowance for Doubtful Accounts has an unadjusted credit balance of $ 14,500. Jarden prepares a...
-
Cellular Technologies manufactures capacitors for cellular base stations and other communications applications. The company's July 2024 flexible budget shows output levels of 6,500, 8,000, and 10,000...
-
If ______ shares are issued for the purpose of redemption of preference shares, it will not be treated as increase of capital.
-
The summarised balance sheet of Gaur Ltd. on December 2004 was as follows: On the above date, the preference shares were redeemed at a premium of 10%. You are required to pass journal entries and...
-
How do you calculate % of sales in elasticity? Elasticity of demand = .4512 housing income 75000 expected to fall 2.5% sales will fall by _____?
-
Scenario: Negotiating for a Promotion: An advertisement has been placed on your company's and on major recruitment websites for a great opportunity to be employed as Country Manager at ABC insurance...
-
In 2011, the Supreme Court of British Columbia rendered a judgment in a reference case about various provisions of the Criminal Code of Canada, including s. 290, which criminalizes marriage to more...
-
Your supervisor is interested in possibly redesigning the office space of your department (10 people) from individual offices to one large, shared workspace. She has asked you to investigate the...
-
Scenario NationaliTeas is an online tea shop that's seen a rise in popularity. The company has grown from a small domestic business with 10,000 customers a month to a global organization that serves...
-
What are your intentions for further learning? What strategies and experiences will you provide? When will this occur? This section is where you plan for future learning in response to what you have...
-
Many people believe employers use pension vesting requirements solely for the purpose of retaining employees. If this is completely or even partially true, do you think such behavior is ethical? Why...
-
For the following exercises, write the polynomial function that models the given situation. Consider the same rectangle of the preceding problem. Squares of 2x by 2x units are cut out of each corner....
-
Two companies buy identical computer equipment. The large company writes it off immediately, but the smaller company treats it as a fixed asset. Which accounting concept are the companies applying?...
-
Cash equivalents are held A. For investment purposes B. For the purpose of meeting short-term cash commitments C. For other purposes
-
A very large company has prepared financial statements without including very small items of furniture in its fixed assets. What accounting concept has the company applied? A. Prudence B. Consistency...
-
Just need the answer to 6B, someone already gave me the wrong answer.. Northwood Company manufactures basketballs. The company has a ball that sells for $25. At present, the ball is manufactured in a...
-
Please include the formula.. 1 Assignment #1 Its For the Beans, new coffee shop, has opened on campus. Janice. the manager, purchased a new software package that will help Its For the Beans keep...
-
Need assistance. Tracie Corporation manufactures and sells women's skirts. Each skirt (unit) requires 2.2 yards of cloth. Selected data from Tracie's master budget for next quarter are shown below:...
Study smarter with the SolutionInn App