Question

JK Co. Ltd resolved to buy back 40,000 of its fully paid equity shares of Rs.10 each at 20% premium. For this purpose the company decided to issue 1,500 10% preference shares of Rs.100 each at par the total sum payable with applications. The company had an amount of Rs1,10,000 in securities premium account and had sufficient balance in general reserve account to fulfil the requirements of buy back of equity shares. You are required to pass necessary journal entries in the books of JK ltd. (10 Marks)​

Answer 1

Answer:

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Answer 2

Answer:

I am not knowing you are knowing then say na