Doubt

Accountancy

In this question, general reserve or profit and loss account balance which should be used first for redemption of preference shares ? Becoz if i use first profit and loss balance my answer differs with that of institute ..

Sri kanaga Varshini

CA Final

★ 3K+

11-Jun-21 15:10

507

Answers (2)

You can use General Reserve first, as generally Reserves are first used for such purposes.

Sahibdeep Singh

CA Inter

★ 14K+

11-Jun-21 18:21

Sahibdeep Singh

You can use General Reserve first, as generally Reserves are first used for such purposes.

Thank u sir

Thread Starter

Sri kanaga Varshini

CA Final

★ 3K+

11-Jun-21 18:23

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