Pls. solve this question - Need help

GAURAV TIWARI (CA FINAL STUDENT) (105 Points)

25 July 2011  

Ledget of A Ltd is as follows:

14% Pref. Share Capital  Rs. 3,00,000

Securities Premium Rs. 20,000

Investement allowance reserve Rs. 50,000

G/R Rs. 80,000

P/L A/c Rs. 38,600

The company redeems prefernce share at a premium 10% by issue of equity shares of Rs. 10 each at a premium of 20%. Fresh Issue is made on multiple of 100 shares  for such amount as is necessary after utilizing the available sources of the max. extent

Calculate Number of fresh shares issued and the amount transferred to Capital Redemption Reserve...

 

PLEASE SOLVE THIS I NEED URGENT SOLUTION...