Class/Course - CA - CPC

Subject - Fundamentals of Accounting

Chapter - Redemption of Preference Shares

Attention CA - CPC standard Aspirants! Just Exam provide a platform to all students who want to make practice for various subject online. We prepare this platform on the base of CBSE. If you want to join our unlimited test series, then please write us at about your class/course

Dear User, Kindly login/register to view answer & explanation of each question.
Click here to Login/Sign Up.
Q.1 Ajay Ltd. decides to redeem 10,000 Preference Shares of Rs. 10 each at 10% premium. Balance in Profit and Loss A/c is Rs. 65,000 and in Securities Premium A/c is Rs. 5,000. You are required to calculate the minimum number of equity shares of Rs. 10 each to be issued for the purpose of redemption, if the new share is to be issued at a discount of 20%.
  13, 125 shares