SRK issues Rs 50000 worth of equity shares at par for redemption of preference shares have a face value of Rs 350000 the amount transfer to capital redemption reserve account is
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Answer:
350000-50000=300000 transferred to capital redemption reserve
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The Capital Redemption Reserve (CRR) is a requirement under the Companies Act which applies to repurchase and redemption programs. The requirement must be met by companies that spend capital on the use of any of the three proposed methods.
Explanation:
Amount transfered to capital redemption reserve account is
= 350000 - 50000
= 300000
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