Solution of Q 20 Share Capital TS Grewal 2023-24 [CBSE]
Step-by-step solution of Question 20, Chapter 8 Accounting for Share Capital (Issue of Shares), TS Grewal Class 12 Accountancy 2023-24 for the CBSE Board.
Question 20
Sugandh Ltd. issued 60,000 shares of ₹ 10 each at a premium of ₹ 2 per share payable as ₹ 3 on application, ₹ 5 (including premium) on allotment and the balance on first and final call. Application money received was ₹ 2,76,000. It was resolved to allot as follows:
- (i) Applicants of 40,000 shares — 30,000 shares,
- (ii) Applicants of 50,000 shares — 30,000 shares,
- (iii) Applicants of 2,000 shares — Nil.
Mohan, who had applied for 800 shares in Category (i) and Sohan, who was allotted 600 shares in Category (ii) failed to pay the allotment money. Calculate amount received on allotment.
Solution
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About this solution
This is Chapter 8 Share Capital of TS Grewal Edition 2023-24.
Written by Vijay Adarsh, teaching commerce since 2003 to Class 11, Class 12, B.Com, CA, CS and CMA students.
We have solved all the practical questions in this book and explained them Step by Step in detail with clear working notes.
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