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  • Mohan Ltd Holds 3000 Equity Shares Form

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S.100 each and 6% 1,000 Cumulative Preference Shares of Rs.100 each. Sohan Ltd has also issued 6% Debentures to the extent of Rs.2,00,000 out of which Mohan Ltd. holds Rs.1,00,000. The following are the Profit & Loss Accounts of the two Companies for the year ending 31.12.2007: (Rs.000s) Expenditure Mohan Sohan Income Ltd. Ltd. To Purchase (Adjusted) 1,500 600 By To Manufacturing Expenses NIL Gross Profit c/d 400 1,500 1,900 1,500 400 500 6 NIL 42 NIL 448 1,500 1,900 500.

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Journal entries for buyback of shares ParticularsDr/CrDebit (Rs)Equity Share Capital A/cDr.XPremium payable on buy-back (if any)Dr.XTo Equity Shareholders A/cCr.3. Payment made for buyback of shares18 more rows • Oct 4, 2021

To record a repurchase, simply record the entire amount of the purchase in the treasury stock account.

ing to section 69 of the Companies Act, 2013, where buy-back is done out of free reserves or securities premium account, then an amount equal to the nominal value of shares bought back must be transferred to “Capital Redemption Reserve Account” and its detail must be disclosed in the Balance Sheet.

If bank loan is taken to provide cash for buy-back of shares, Bank A/c should be debited and Bank Loan A/c should be credited.

Reduced (or cancelled) by means of a reduction of capital. In ance with article 3 of the Companies (Reduction of Share Capital) Order 2008, the reserve created on such reduction can be treated as a realised profit and, therefore, it may be distributed to shareholders or used to buy back shares.

Zaveri Ltd. resolved to buy back 3,00,000 of its fully paid equity shares of Rs 10 each at Rs 12 per share. For the purpose, it issued 10,000 13% preference shares of Rs 100 each at par, the total sum being payable with applications.

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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232