Menu
support@graduatecourseshelp.com
+1(805) 568 7317

the rock fort ltd issued 4 000 8 redeemable preference shares of rs 100 each at par 617001

The Rock Fort Ltd. issued 4,000 8% redeemable preference shares of Rs.100 each at par on 1 January 2004, redeemable at the option of the company on or after 31 December 2010,partly or fully.

Redemptions were made out of profits as follows:

  1. 600 shares on 31 December 2010 at par
  2. 800 shares on 31 March 2011 at 10% premium
  3. Remaining shares on 30 June 2011 at a premium of 5% by making a fresh issue of 2,000 equity shares of Rs.100 each at a premium of 10%On 30 June 2011, the company also decided to capitalize 50% of its CRR by issuing bonus shares ofRs.100 each fully paid at a premium of Rs.25 per share. You are required to pass the necessary journal entries in the books of The Rock Fort Ltd.

"Order a similar paper and get 15% discount on your first order with us
Use the following coupon
"GET15"

Order Now