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[ISC] Q. 9 Solution of Share Capital TS Grewal ISC 2023-24 Edition

Question 9 of 79Chapter 7Class 12 · ISC✍ Vijay Adarsh

Step-by-step solution of Question 9, 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 9

Soft Drilling Ltd. has authorised capital of ₹ 10,00,000 divided into shares of ₹ 10 each. It offered 40,000 shares on the following terms:

₹ 2 per share on application, ₹ 5 per share (including ₹ 2 premium) on allotment, ₹ 3 per share on the first call and ₹ 2 per share on the final call. Applications were received for 60,000 shares. Applicants for 20,000 shares were sent letters of regret and the application money was refunded. All the amounts due on shares were duly received. Give necessary Journal entries and prepare the Balance Sheet.

TS Grewal Class 12 Issue of Share Capital Question 9

Solution

Solution of Q 9 Issue of Share Capital TS Grewal 2023-24 part 1
Solution of Q 9 Issue of Share Capital TS Grewal 2023-24 part 2
Stuck on this chapter?Watch it explained in the Class 12 Accounts video courseEvery chapter, step by step, by Vijay Adarsh (23 years teaching).Watch free demo
Solution of Q 9 Issue of Share Capital TS Grewal 2023-24 part 3
Solution of Q 9 Issue of Share Capital TS Grewal 2023-24 part 4
Solution of Q 9 Issue of Share Capital TS Grewal 2023-24 part 5
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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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