Question

A company had, as part of its share capital 1,000 redeemable preference shares of Rs.100

each fully paid up. When the shares became due for redemption, the company had

Rs.60,000 in its reserve fund. The company made minimum new issue of equity shares of

Rs.25 each necessary for the purpose of redemption and received cash in full. Make the

necessary journal entries recording the above transactions.​

Answer 1

Answer:

24000

Explanation:

1000÷100×60000÷25