Accounting - Study Mode
[#2806] Redeemable preference shares of Rs. 2,00,000 are redeemed at par for which purpose fresh equity shares are issued for Rs. 80,000 at par, The amount be transferred to Capital Redemption Reserve Account would be:
Correct Answer
(B) Rs. 1,20,000
[#2807] When the sale is expected to occur beyond one year, the entity shall measure the costs to sell at their present value. Any increase in the present value of the costs to sell that arises from the passage oftime shall be presented in
Correct Answer
(B) Profit or loss as a financing cost
[#2808] When a company purchases its own debentures as an investment, 'own debentures account' is debited with:
Correct Answer
(C) Amount paid for such debentures
[#2809] Bonus shares can be issued out of i. General reserve ii. Capital Gain iii. Revaluation iv. Profit and loss (Cre.) Which of the following is correct
Correct Answer
(A) i or iv
[#2810] Fees paid to lawyer for drawing a purchase deed of land is which type of expenditure?
Correct Answer
(A) Capital expenditure