Examveda
Examveda

Redeemable preference shares of Rs. 1,00,000 are redeemed at a premium of 5% for which fresh equity shares of Rs. 40,000 are issued at par. What amount should be transferred to Capital Redemption Reserve account:

A. Rs. 1,05,000

B. Rs. 60,000

C. Rs. 40,000

D. Rs. 0

Answer: Option B


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