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During a court-approved internal reconstruction, Galaxy Motors Ltd. reduces its 40,000 equity shares from ₹100 each to ₹60 each fully paid. The company has a Profit & Loss (debit) balance of ₹11,00,000 and Goodwill of ₹4,00,000. All capital reduction must first write off Goodwill and the P&L debit balance. What is the final amount to be transferred to the Capital Reserve Account?
₹1,00,000
₹7,00,000
₹5,00,000
Nil (The balance is entirely consumed)
₹1,00,000
Practice and solve "During a court-approved internal reconstruction, Galaxy Motors Ltd. reduces its 40,000 equity shares..." for Subject Knowledge - CCIJunior Assistant Accounts 01 Sep 2026 Shift 1. The correct answer is Option A: ₹1,00,000. Detailed step-by-step solution, conceptual clarity, and formulas on Examoogle.
Practice and solve "During a court-approved internal reconstruction, Galaxy Motors Ltd. reduces its 40,000 equity shares..." for Subject Knowledge - CCIJunior Assistant Accounts 01 Sep 2026 Shift 1. The correct answer is Option A: ₹1,00,000. Detailed step-by-step solution, conceptual clarity, and formulas on Examoogle.