Question

company has issued 50000 redeemable preference shares of Rs 10 each, Rs 8 per share paid.in order to redeem these shares, the company issued for cash 30000 equity shares of Rs 10 each at a premium of Rs 2 per share. out of the cash proceeds, the redeemable preference shares were paid and the balance was met out of the reserve fund which stood at Rs 250000. show journal entries in the books of the company.​

Answer 1

Answer:

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