Following a series of trading losses, Failure Ltd. resolved to reduce its capital to 50,000, Equity Shares
Question:
Following a series of trading losses, Failure Ltd. resolved to reduce its capital to 50,000, Equity Shares of ₹ 4 each, fully paid and to eliminate its Securities Premium Account. The Company’s Balance Sheet prior to implementation of new scheme was:
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To implement the scheme of reducing capital and eliminating the Securities Premium Account as described we need to record the necessary journal entrie...View the full answer
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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
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