journal entry
This query is : Resolved
07 October 2009
What is the journal entry if preference shares worth Rs. 100 is issued at a premium of Rs. 5 and redeemable at a premium of Rs. 3?
Entry is required at the time of issue of shares.
Entry is required at the time of issue of shares.
13 October 2009
At the time of issue of share
bank a/c Dr. 105
To Pref. Share Capital 100
To Security Premium 5
At the time of Redemption
Free Reserve a/c Dr.103
To Capital Redemption Reserve 103
Pref. Share Capital a/c Dr. 100
Premium on redem. on p.c. capital Dr.3
To Pref.Share Holder a/c 103
Pref. Share Holder A/c Dr.103
To Bank 103
bank a/c Dr. 105
To Pref. Share Capital 100
To Security Premium 5
At the time of Redemption
Free Reserve a/c Dr.103
To Capital Redemption Reserve 103
Pref. Share Capital a/c Dr. 100
Premium on redem. on p.c. capital Dr.3
To Pref.Share Holder a/c 103
Pref. Share Holder A/c Dr.103
To Bank 103
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- PPF interest-As Exempt Income disclosure
- Scrutiny and reopening of past returns
- Tax on Deemed Capital Gain
- Booth for sales promotion
- F & O PROFIT REPORTING FOR AY 2026-27
- Type of Capital Gain
- Regarding ITR filing with more value than showing in AIS/TIS
- Difff in ais receipts and gst turnover
- ITR-3 File/Error Found
- Exiting partner in partnership firm in gst portal
- Taxability of credit in canara bank ET & T section (NRO)
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
