Can a Company issue a share having face value of Rs. 10 at Rs. 97 Post category:Accountancy Reading time:1 mins read SOLUTION No. Under Section 53 of the Companies Act, 2013, a Company cannot issue shares at discount. 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 PostGive one point of distinction between Reserve Capital and Capital Reserve. Next PostCan ‘securities premium reserve’ be distributed as dividend? You Might Also Like Pass entries in the firm’s journal for the following on admission of a partner: (i) Machinery be reduced by Rs. 16,000 and Building be appreciated by Rs. 40,000. (ii) A provision be created for Doubtful Debts @ 5% of Debtors amounting to Rs. 80,000. (iii) Provision for warranty claims be increased by Rs. 12,000.(iv) Furniture (Book Value Rs. 50,000) is to be reduced by 40%.(v) Furniture (Book Value Rs. 50,000) is to be reduced by 60%. November 3, 2022 What are comparative financial statements? October 1, 2022 Ankit Ltd. issued 20,000 equity shares of 10 each at a premium of Rs. 2 per share, payable as: July 14, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Pass entries in the firm’s journal for the following on admission of a partner: (i) Machinery be reduced by Rs. 16,000 and Building be appreciated by Rs. 40,000. (ii) A provision be created for Doubtful Debts @ 5% of Debtors amounting to Rs. 80,000. (iii) Provision for warranty claims be increased by Rs. 12,000.(iv) Furniture (Book Value Rs. 50,000) is to be reduced by 40%.(v) Furniture (Book Value Rs. 50,000) is to be reduced by 60%. November 3, 2022
Ankit Ltd. issued 20,000 equity shares of 10 each at a premium of Rs. 2 per share, payable as: July 14, 2022