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[ISC] Q. 23 Solution of Share Capital TS Grewal ISC 2023-24 Edition

Question 23 of 79Chapter 7Class 12 · ISC✍ Vijay Adarsh

Step-by-step solution of Question 23, 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 23

Himalaya Ltd. was registered with a nominal capital of ₹ 10,00,000 in shares of ₹ 10 each, 90,000 of which were issued payable as: ₹ 1 on application, ₹ 2 on allotment, ₹ 3 on first call and the balance on final call. All the shares were applied for and allotted and all the cash was received on the due dates except that one shareholder holding 1,000 shares failed to pay the allotment money and another shareholder holding 2,000 shares paid the first and the final call together with the allotment money.

Journalise the above transactions in the books of the company.

TS Grewal Class 12 Issue of Share Capital Question 23

Solution

Solution of Q 23 Issue of Share Capital TS Grewal 2023-24 part 1
Solution of Q 23 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 23 Issue of Share Capital TS Grewal 2023-24 part 3
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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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