A limited company decides to buy back 50,000 equity shares of 10 each at a premium of
Question:
A limited company decides to buy back 50,000 equity shares of ₹10 each at a premium of 20%. For this purpose, it decides to issue 10% preference shares of ₹10 each at par. To meet the requirement of the law, the company has sufficient free reserves, i.e., General Reserves and Securities Premium Account. You are required to pass journal entries to record the above transactions.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Heres a table showing the journal entries to record the buyback of equity shares and the issuance of ...View the full answer
Answered By
Sayee Sreenivas G B
I have extensive tutoring experience, having worked as a private tutor for over three years. I have tutored students from different academic levels, including high school, undergraduate, and graduate levels. My tutoring experience has taught me to be patient, attentive to student needs, and effective in communicating difficult concepts in simple terms.
I have a strong background in statistics, probability theory, data analysis, and data visualization. I am proficient in using statistical software such as R, Python, and SPSS, which are commonly used in academic research and data analysis. Additionally, I have excellent communication and interpersonal skills, which enable me to establish rapport with students, understand their learning styles, and adapt my teaching approach to meet their needs.
I am passionate about teaching and helping students achieve their academic goals.
0 Reviews
10+ Question Solved
Related Book For 
Corporate Accounting As Per The Companies Act 2013 Including Rules 2014 And 2015
ISBN: 9789352605569
2nd Edition
Authors: M Hanif, A Mukherjee
Question Posted:
