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 X, Y and Z were partners sharing profits and losses in the ratio of 3: 2: 1. Y died on 30th June, 2021. Profit from 1st April, 2021 to 30th June, 2021 was Rs. 3,60,000. X and Z decided to share the future profits in the ratio of 3: 2 respectively with effect from 1st July, 2021. Pass the necessary Journal entries to record Y’s share of profit up to the date of death. August 5, 2022 Give necessary journal entries:(i) The Directors of Devendra Ltd. resolved on 1st January, 2010 that Equity Shares of Rs. 10 each, Rs. 8 paid-up be forfeited for non-payment of final call of Rs. 2. On 1st February, 60 of these shares were reissued @ Rs. 7 per share as fully paid-up.(ii) Virender Limited forfeited 20 shares of Rs. 100 each (Rs. 60 called-up) issued at par to Mukesh on which he had paid Rs. 20 per share. Out of these, 15 shares were reissued to Sanjeev as Rs. 60 paid-up for Rs. 45 per share. July 14, 2022 Ashish Ltd. invited applications for 10,000 shares of Rs. 100 each payable as follows: Rs. 20 on application, Rs. 30 on allotment, Rs. 20 on first call and the balance on final call. All the shares were applied and allotted. All the money was duly received. You are required to Journalise these transactions July 13, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
X, Y and Z were partners sharing profits and losses in the ratio of 3: 2: 1. Y died on 30th June, 2021. Profit from 1st April, 2021 to 30th June, 2021 was Rs. 3,60,000. X and Z decided to share the future profits in the ratio of 3: 2 respectively with effect from 1st July, 2021. Pass the necessary Journal entries to record Y’s share of profit up to the date of death. August 5, 2022
Give necessary journal entries:(i) The Directors of Devendra Ltd. resolved on 1st January, 2010 that Equity Shares of Rs. 10 each, Rs. 8 paid-up be forfeited for non-payment of final call of Rs. 2. On 1st February, 60 of these shares were reissued @ Rs. 7 per share as fully paid-up.(ii) Virender Limited forfeited 20 shares of Rs. 100 each (Rs. 60 called-up) issued at par to Mukesh on which he had paid Rs. 20 per share. Out of these, 15 shares were reissued to Sanjeev as Rs. 60 paid-up for Rs. 45 per share. July 14, 2022
Ashish Ltd. invited applications for 10,000 shares of Rs. 100 each payable as follows: Rs. 20 on application, Rs. 30 on allotment, Rs. 20 on first call and the balance on final call. All the shares were applied and allotted. All the money was duly received. You are required to Journalise these transactions July 13, 2022