3.(a) Q Ltd. decides to redeem 650, 15% Pref. Shares of 100 each at 10% premium. It has a General reserve of 1,15,500 , Securities Premium of 1,000 and Investments [Face value 1,00,000] of 2,00,000. 40% of Investments are sold at 150% .If the new equity shares are to be issued at 25% premium and minimum General reserve of 50,000 is to be kept, Calculate the minimum number of Equity shares of 10 each to be issued for the purpose of redemption and the amount required to be transferred to Capital Redemption Reserve Account.

3.(b) On 1.4.2020, S Ltd had 1,00,000, 12% Debentures of 100 each and Debentures Redemption Reserve 20,000. On 1st Aug,2020, 300 Debentures were purchased for 29,100 cum-Interest and on 1st Nov.2020, 20,000 Debentures of 100 each were purchased @ 96.75 ex-Interest. Interest on debentures is payable half-yearly on 30th Sept and on 31st Mar. These Debentures are cancelled on 31st Mar. 2021.Pass necessary Journal Entries during 2020-2021.