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Mohsin Mushtaq

Sunday, June 19, 2011 11:23 PM

Help me in Financial Accounting Topic

AOA, dear all respected members,
Plz help me urgently regarding
"[B](I) State the purpose for which Share premium can be utilized[/B]."
[B](II) Primary purpose of Statement of Sources & Uses.[/B]
Thx in anticipation.

TheUniter

Thursday, June 23, 2011 08:22 PM

[QUOTE]"(I) State the purpose for which Share premium can be utilized."[/QUOTE]
i think the share premium can be utilized to offset the share discount. In other words, share premium can be used to write off the discount allowed at the time of issuance of shares. For confirmation, you may refer the co ordinance-1984.

03:33 PM (GMT +5)