When Redeemable Preference shares are due for redemption, the entry passed is | Faculties

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Mr. Dubey

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📊 Corporate Accounting

Q. When Redeemable Preference shares are due for redemption, the entry passed is

(A) debit redeemable preference share capital a/c; credit cash a/c
(B) debit redeemable preference share capital a/c; credit preference shareholders a/c
(C) debit preference shareholders a/c; credit cash a/c
(D) debit preference shareholders a/c; credit capital reduction a/c

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✅ Correct Answer: (B) debit redeemable preference share capital a/c; credit preference shareholders a/c

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