1.

11. Extract of Balance Sheet :ACELiabilities:Equity Share Capital (10)2,400 Securities Premium 350General Reserve930Profit & Loss Account*340Buy-back price 15 per share. Buy-back claim isa) 900b) 3600c). *4,750​

Answer»
  • On 1.1.20 X Ltd. purchased fixed ASSETS worth 2,50,000 for a consideration of * 2,30,000 PAYABLE by the
  • issue of 20,000 fully paid equity SHARES of 10 each at a premium of 15%. After 6 months X Ltd. sold the
  • above fixed assets for * 3,20,000.


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