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[ISC] Q. 16 Solution of Share Capital TS Grewal ISC 2023-24 Edition

Question 16 of 79Chapter 7Class 12 · ISC✍ Vijay Adarsh

Step-by-step solution of Question 16, 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 16

Sunflower Ltd. purchased the running business from Bhaskar for ₹ 15,00,000 payable ₹ 12,00,000 in fully paid shares of ₹ 10 each and balance through cheque.

The assets acquired and liabilities taken over are:

  1. Plant and Machinery ₹ 6,00,000; Building ₹ 4,00,000; Sundry Debtors ₹ 1,60,000
  2. Stock ₹ 2,00,000; Cash ₹ 3,00,000; Sundry Creditors ₹ 60,000

You are required to pass necessary Journal entries in the company’s books.

TS Grewal Class 12 Issue of Share Capital Question 16

Solution

Solution of Q 16 Issue of Share Capital TS Grewal 2023-24 part 1
Solution of Q 16 Issue of Share Capital TS Grewal 2023-24 part 2
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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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