- vyuvv - 11,VVU IUI Prenul = 30,000)12. In 2012 a Transport Company Ltd. made a public issue of 6% Redeemable Preference Sharesof 10 each repayable at 10% premium. 12,450 shares of * 10 each were subscribed and fullypaid.With a view to redeem such preference shares the company gave a notice as per requirements inJanuary, 2016. General Reserve in the Balance Sheet then, was 90,000 and Bank Balance76,000. In order to arrange funds the company offered for public subscription 7,500, 744%preference shares of 10 each, payable in full on application, 6,132 shares of these were takenand allotted. Immediately afterwards the company redeemed the whole of the 6% PreferenceShares in accordance with the terms of issue.You are required to give Journal Entries (including for cash) and prepare necessary accounts inthe books of the company from issue to redemption of Preference Shares.[B. Com., Rohilkhand : 1992; Dr. B. R. A. U.: 1992: Indore : 2005]TAns. Can Red Reserve 63 1807 1 24 500 61 990). Dami...​