Accountancy, asked by mrcharlie, 8 months ago

Q.1 (a) Zaveri Ltd, resolved to buy back 3,00,000 of its fully paid equity shares of 10 each at 12 per share. For the purpose, it issued 10,000 13% preference shares of 100 each at par, the total sum being payable with applications. The company uses 38,50,000 of its balance in Securities Premium Account and the balance in General Reserve Account is 21,00,000 to fulfill the legal requirements regarding buy - back pass journal entries for all the transactions involved in the buy - back

( b) X Co. Ltd. has a share capital of 50,000 equity shares of 100 each. The company decided to increase its share capital by the issue of additional shares to the existing share-holders in proportion of one new stare for every five shares held. The com - right market price of a share is 3250 at the time of announcement of the right issue. The price at which a new share is offered is 2 190. Pass Journal Entries and determine the value of right? ​

Answers

Answered by vinayguptasona
0

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