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Redemption of Preference Shares

Accountancy

In Illustration 9: Value of Profit and Loss Account is Not Given. And the Journal Entries for Premium on Redemption of Preference Shares and CRR are done using General Reserve which I think technically dont follow Indian Companies Act. Comment on this.

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CA Inter

★ 105

20-Sep-22 19:59

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Answers (3)

Best Answer

You can use General reserve balance as well.

CA Suraj Lakhotia

Admin

20-Sep-22 20:56

Reference

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Thread Starter

A B

CA Inter

★ 105

20-Sep-22 20:22

CA Suraj Lakhotia Admin

You can use General reserve balance as well.

Thankyou sir. I will practice it well now.

Thread Starter

A B

CA Inter

★ 105

20-Sep-22 21:09