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[ISC] Q. 8 Solution of Share Capital TS Grewal ISC 2023-24 Edition

Question 8 of 79Chapter 7Class 12 · ISC✍ Vijay Adarsh

Step-by-step solution of Question 8, Chapter 7 Joint Stock Company – Issue of Share Capital, TS Grewal Class 12 Accountancy 2023-24 for the ISC Board.

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Question 8

(a) Satya Ltd. invited applications for 20,000 equity shares of ₹ 10 each at a premium of ₹ 4 per share. The issue price is payable on application. Issue was fully subscribed. Pass necessary Journal entries.

(b) Krishna Ltd. was registered with an authorised capital of ₹ 10,00,000 divided into equity shares of ₹ 10 each. It issued 40,000 shares to the public at a premium of ₹ 2 each, payable as ₹ 2 on application, ₹ 5 on allotment (including premium), ₹ 3 on first call and ₹ 2 on second and final call. All the shares were subscribed and amounts were duly received. Pass Journal entries.

(c) New Era Ltd. issued 40,000 shares of ₹ 100 each at a premium of ₹ 20 payable as: ₹ 50 on application, ₹ 40 on allotment and ₹ 30 on first and final call. Issue was fully subscribed and amounts were duly received. Give the necessary Journal entries in the books of the company.

TS Grewal Class 12 Issue of Share Capital Question 8

Solution

Solution of Q 8 Issue of Share Capital TS Grewal 2023-24 part 1
Solution of Q 8 Issue of Share Capital TS Grewal 2023-24 part 2
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Solution of Q 8 Issue of Share Capital TS Grewal 2023-24 part 3
Solution of Q 8 Issue of Share Capital TS Grewal 2023-24 part 4
Solution of Q 8 Issue of Share Capital TS Grewal 2023-24 part 5
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Solution of Q 8 Issue of Share Capital TS Grewal 2023-24 part 6
Solution of Q 8 Issue of Share Capital TS Grewal 2023-24 part 7
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About this solution

This is Chapter 7 Issue of Shares of ISC 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.

Also, we have followed the proper format and workings which are required as per Guidelines Issued by the ISC Council. Just follow our presentation of solutions and score good marks in Accountancy Exam.

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