Question

3. On 31st March 2010, the Balance Sheet of Prakash Engineering Company Limited, stood as follows. Liabilities: Equity Share Capital 12,50,000,Redeemable Preference Share Capital 5,00,000,Sundry Creditors 2,00,000,Bank overdraft 50,000, General Reserve 3,75,000.Assets:Buildings 3,00,000, Machinery 8,00,000,Patents 5,00,000,Investments 3,00,000,Banks 4,75,000. On 31st March 2010, preference shares were to be redeemed and for this purpose 2,500 equity share of Rs. 100 each were issued at a premium of 10%. The issued shares were all subscribed and fully paid for. The preference shares were duly paid off. Pass the necessary journal entries and show the Balance Sheet of the company after redemption. *​

Answer 1

Answer:

Reserve" (and any subsequent words) was ignored because we limit queries to 32 words.