SOLVE THIS ?????????????????
This query is : Resolved
25 July 2007
THE COMPANY REDEEMED PREFERENCE SHARES SHARE AT A DISCOUNT OF 10%, (ie) RS 90 (FV 100), BY FRESH ISSUE OF EQUITY SHARE AT RS 100. HOW WILL COMPANY ACCOUNT RS 10 PROFIT (ie)DIFFERENCE BETWEEN RS 100 & RS 90? IS IT RIGHT TO RECOGNISE IT IN P&L? IF NOT WHERE?
25 July 2007
It is a Capital Reserve (Redemption Reserve)not to be accounted through P&L Account.
26 July 2007
Yes, It should be booked in capital reserve but not P&L
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