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During the year 2008-09, T. Ltd. issued 20,000, 12% Preference Shares of Rs. 10 each at a premium of 5%, which are redeemable after 4 years at par. During the year 2013-14, as the company did not have sufficient cash resources to redeem the preference shares, it issued 10,000, 14% debentures of Rs. 10 ea ch at a pr emium of 10%. At the time of
redemption of 12% preference shares, the amount to be transferred to capital redemption reserve will be
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(a) Rs. 90,000
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(b) Rs. 1,00,000
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Rs. 2,00,000
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(d) Rs. 1,10,000
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Replies (2)
90000 transfers to CRR account ...
200000 redemption of preference shares can't be paid with debenture.. I will be thorough equity or preferences or securities premium
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