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Redemption of Preference Shares

Can we follow any sequence of Journal Entries since date is normally not given... like booking liability of PS Holders in first entry and paying them in Last entry ?


J J

J J

CA Inter

180

17-Aug-20 16:42

36

Answers (3)

It is better and suggested to pass the entries in the specified order since, it won't consume extra time to check for the student and examiner whether all the entries were passed or not.


Lavanya Chitturi

Lavanya Chitturi

Moderator

18-Aug-20 13:04

Preference share capital account dr To Preference shareholders account cr ( being booking liability ) Preference shareholders account dr Bank account cr ( being payment to PS holder)


Dinesh Ravichandran

Dinesh Ravichandran

CMA Final

6K+

19-Aug-20 21:11

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