The Capital of a company consists of:15,000 14% Preference shares of a Rs. 10 each fully paid 10,000,10 % preference shares of Rs.10 each Rs, 8 paidThe company has a credit balance of Rs. 2,00,000 in Profit & Loss A/c And Rs. 75,000 in General Reserve.If the company wants to redeem the Preference shares at a premium of Rs. 2 per share Calculate the amount to be transferred to the Capital Redemption Reserve.

Question

Examsnet · Accepted Answer

Correct Answer is :  Rs, 1,50,000

CA CPT June 2018 Question Paper Fundamentals of Accounting for online practice