A company has to redeem redeemable preference shares of the value of Rs. 1,00,000 at a premium of 10% for which the company has issued 5,000 equity shares of Rs. 10 each at a premium of 20%. The amount to be transferred to capital redemption reserve account would be:

Question

Option 1: Rs. 1,00,000

Option 2: Rs. 50,000

Option 3: Rs. 1,10,000

Option 4: Rs. 60,000

AfterBoards · Accepted Answer

The answer is 'Rs. 50,000'. View full solution:

CUET Accountancy 2022 8 Aug Shift 2 PYQs

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