Question

22. (Where some preference shareholders are not traceable and bonus issue is to be made). The
due for redemption on 30.6.2019 at a premium of 5%. The company made an issue of 2,000
3,000, 6% Redeemable Preference Shares of 100 each, fully paid of BEEPEA Ltd. were
was immediately subscribed and paid for. Expenses of issue of the shares came to 10,000.
Equity Shares of 100 each at a premium of 20% on the above mentioned date. The issue
30.6.2019. The redemption was carried out, holders of 500 shares not being traceable. A
The General Reserve and the Surplus Account had balances of 3,50,000 and 60,000 on
above, assuming that revenue reserve or surplus is to be used to the minimum extent
State the Journal Entries recording the issue of shares and the redemption mentioned
Ans.
bonus issue of 3,00,000 in the form of fully paid equity shares was made.
possible.
3. A limited​

Answer 1

Answer:

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