CA CPT 2016 June Question Paper Fundamentals of Accounting for online practice

WYE ltd redeemed 1,000, 10% preference shares of Rs.100 each at a premium of Rs.10 pershare. The company had a balance of Rs.50,000 in general reserve and Rs.27,000 in Profit &Loss a/c. For the purpose of redemption the company issued 5,000 equity shares of Rs. 10each at a premium of 20%. The amount to be transferred to Capital Redemption Reserve willbe: