What do you mean by Non-Redeemable Preference Shares? Post category:Accountancy Reading time:1 mins read SOLUTION Non-redeemable or Irredeemable preference shares are those, the capital of which cannot be refunded before winding up. Please Share This Share this content Opens in a new window X Opens in a new window Facebook Opens in a new window Pinterest Opens in a new window LinkedIn Opens in a new window Viber Opens in a new window VK Opens in a new window Reddit Opens in a new window Tumblr Opens in a new window Viadeo Opens in a new window WhatsApp Read more articles Previous PostWhat do you mean by Redeemable Preference Shares? Next PostWhat do you mean by Convertible Preference Shares? You Might Also Like What are preference Shares? September 28, 2022 Star Ltd. forfeited 500 Equity Shares of Rs. 100 each for non-payment of first call of Rs. 30 per share. The final call of Rs. 10 per share was not yet made. Out of these, 60% shares were reissued for Rs. 39,000 fully paid. journalise the forfeiture and reissue of shares. July 14, 2022 A, B and C started business on 1st April, 2018 with capitals of Rs. 1,00,000; Rs. 80,000 and Rs. 60,000 respectively sharing profits (losses) in the ratio of 4 : 3 : 3. For the year ended 31st March, 2019, the firm suffered a loss of Rs. 50,000. Each of the partners withdrew Rs. 10,000 during the year. On 31st March, 2019, the firm was dissolved, the Creditors of the firm stood at Rs. 24,000 on that date and Cash in Hand was Rs. 4,000. The assets realised Rs. 3,00,000 and Creditors were paid Rs. 23,500 in full settlement of their claims. Prepare Realisation Account and show your workings clearly. July 26, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Star Ltd. forfeited 500 Equity Shares of Rs. 100 each for non-payment of first call of Rs. 30 per share. The final call of Rs. 10 per share was not yet made. Out of these, 60% shares were reissued for Rs. 39,000 fully paid. journalise the forfeiture and reissue of shares. July 14, 2022
A, B and C started business on 1st April, 2018 with capitals of Rs. 1,00,000; Rs. 80,000 and Rs. 60,000 respectively sharing profits (losses) in the ratio of 4 : 3 : 3. For the year ended 31st March, 2019, the firm suffered a loss of Rs. 50,000. Each of the partners withdrew Rs. 10,000 during the year. On 31st March, 2019, the firm was dissolved, the Creditors of the firm stood at Rs. 24,000 on that date and Cash in Hand was Rs. 4,000. The assets realised Rs. 3,00,000 and Creditors were paid Rs. 23,500 in full settlement of their claims. Prepare Realisation Account and show your workings clearly. July 26, 2022