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In question 1.3 ,we can alternatively debit premium on buy back in second journal entry as can be seen and in next entry Debit Secutities Premium Account and Credit Premium on buy back?

pradyumna hariramani

CA Inter

★ 290

24-May-22 08:05

420

Answers (5)

It's urgent, pls tell asap!

Thread Starter

pradyumna hariramani

CA Inter

★ 290

24-May-22 08:06

I didn't understand ur doubt pls say clearly

Likhitha Sivani

CA Final

★ 14K+

24-May-22 08:15

Instead of the entry done in B, I do it This way Esc A/C Dr. Premium on buyback Dr. To Equity Buy back account And then Securities premium A/C Dr. To Premium on Buy back A/C

Thread Starter

pradyumna hariramani

CA Inter

★ 290

24-May-22 08:29

Thread Starter

pradyumna hariramani

Instead of the entry done in B, I do it This way Esc A/C Dr. Premium on buyback Dr. To Equity Buy back account And then Securities premium A/C Dr. To Premium on Buy back A/C

Haa u can write like this also no problem marks will be allotted

Likhitha Sivani

CA Final

★ 14K+

24-May-22 08:41

Yes you can write like this

Priyanka R

CA Final

★ 20K+

24-May-22 12:33

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