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CA CPT 2016 June Question Paper Fundamentals of Accounting for online practice

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Question : 56

Total: 60

WYE ltd redeemed 1,000, 10% preference shares of Rs.100 each at a premium of Rs.10 pershare. The company had a balance of Rs.50,000 in general reserve and Rs.27,000 in Profit &Loss a/c. For the purpose of redemption the company issued 5,000 equity shares of Rs. 10each at a premium of 20%. The amount to be transferred to Capital Redemption Reserve willbe:

Rs. 50,000
Rs. 1,00,000
Rs. 60,000
Rs. 77,000

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