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please help Queston ** Thomarized Balance Sheet Pet Limited (analisted company tumishes as at 31st March, 2017 Equity & Liabilities Share capital: Authorised capital 2.50.000
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Queston ** Thomarized Balance Sheet Pet Limited (analisted company tumishes as at 31st March, 2017 Equity & Liabilities Share capital: Authorised capital 2.50.000 Equity shares of 10 each fully paid up 5.000,10% Preference shares of 100 each 2500.000 issued and subscribed capital 5,00,000 30,00.000 240.000 Equity shares of 10 each fully paid up 3.000,10% Preference shares of 100 each 24,00.000 3,00.000 27,00.000 (issued two months back for the purpose of buy back) Reserves and surplus: Capital reserve 10.00,000 Revenue reserve 25,00,000 Secunties premium 27.00,000 Profit and loss account 35.00.000 97,00,000 Current liabilities Trade payables 13,00 000 Other current Liabilities 3.00.000 18.00.000 1.40,00.000 Assets Tangible assets Building 25,00,000 Machinery 3100,000 furniture 20,00,000 7600,000 30,00,000 Non-current Investments Current assets 12,00,000 Inventory 700.000 Trade receivables 15,00.000 3400,000 cash and bank balance 1,40,00,000 On 1st April 2017, the company passed a resolution to buy back 20% of its equity capital por shard. For this purpose, it sold all of its investment for 2500 000 The company achieved its target of buy back. You are required to: Glenecessary journal entries and Bence sheet of the company for buy back of huresStep by Step Solution
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