In order to provide fund for capital reduction scheme, the preference shareholders of 10,00,000 have agreed to
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In order to provide fund for capital reduction scheme, the preference shareholders of ₹10,00,000 have agreed to take over the building for ₹8,00,000 in full settlement. Pass journal entry for the above transactions.
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First you need to remove the building from the companys assets by debiting the Building Account ...View the full answer
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