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Redemption of preference shares

Accountancy

In the first adjustment, though preference dividend is paid, why no entry? Can anybody say?

HARI HARAN

CFA L1

★ 170

03-Oct-23 12:27

306

Answers (6)

Preference shares 1 00 000 dividend 10 000. Total 1 10 000. For which he wrote combined entry in 7.45

Prasanth Kumar

CA Inter

★ 13K+

03-Oct-23 12:54

Prasanth Kumar

Preference shares 1 00 000 dividend 10 000. Total 1 10 000. For which he wrote combined entry in 7.45

No, that 10000 is for premium, not dividend

Thread Starter

HARI HARAN

CFA L1

★ 170

03-Oct-23 13:05

Thread Starter

HARI HARAN

No, that 10000 is for premium, not dividend

Sorry bro

Prasanth Kumar

CA Inter

★ 13K+

03-Oct-23 14:22

I guess as it was already paid so we are not making that entry

Areeba Aziz

CA Inter

★ 2K+

03-Oct-23 14:37

Areeba Aziz

I guess as it was already paid so we are not making that entry

Yes. And, They said in a casual way, that we paid PD also.

Renu Madhav

CA Inter

★ 16K+

04-Oct-23 00:24

You can assume it either ways and solve. make a note in the examination

CA Suraj Lakhotia

Admin

04-Oct-23 14:49