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Premium on redemption of Preference Shares

Accountancy

Sir when we pay premium on redemption of Preference Shares and adjust it against profit and loss account. Should we debit in pl or deduct from pl reserve in R&S. Similar where to write off preliminary expenses.

Shrihitha Udupa

CA Inter

★ 170

13-May-24 21:37

Answers (1)

Profit & Loss account for both premium and also preliminary expenses.

CA Suraj Lakhotia

Admin

14-May-24 11:16

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