Question: ABC Ltd. has a paid-up share capital of 11,20,000 divided into 1,60,000 equity shares of 10 each, 7 per share paid-up. The company decided to

ABC Ltd. has a paid-up share capital of ₹11,20,000 divided into 1,60,000 equity shares of ₹10 each, ₹7 per share paid-up. The company decided to reduce the paid-up capital to ₹6 per share, capital to ₹6 per share paidup paying off the necessary amount. Give the necessary journal entries.

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Corporate Accounting 1st Edition by Anita Raman, P. Radhika