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2 cards from this section. Quick, good the night before a test.
What types of shares are issued by companies?
Think of the shares offering different types of dividends.
What is the face value of a share?
Consider the numeric value shown on the share certificate.
Which type of shares has a fixed dividend?
Consider which shareholders have a guaranteed income.
True or False: Equity shares have a guaranteed return.
Recall the variable nature of income from equity.
A company issues 5,000 equity shares of a face value of ₹10 at a premium of ₹2. Prepare the journal entries for the application and allotment stages.
Make sure to reflect both the face value and the premium in your entries.
A company has ₹2,00,000 10% debentures to redeem at a premium of ₹10, due in two months. What are the journal entries at redemption?
Consider how the premium affects the total liability when repaying debentureholders.
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