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[ISC] Q. 35 Solution of Share Capital TS Grewal ISC 2023-24 Edition

Question 35 of 79Chapter 7Class 12 · ISC✍ Vijay Adarsh

Step-by-step solution of Question 35, 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 35

Linux Ltd. was registered with a capital of ₹ 10,00,000 divided into 20,000 shares of ₹ 50 each. The company issued for subscription 10,000 shares payable ₹ 10 per share on application, ₹ 10 per share on allotment and the balance in two calls of ₹ 15 each. The company received applications for 11,600 shares. Applications for 1,000 shares were rejected altogether and the application money was returned to the applicants. A person who applied for 1,000 shares was allotted only 400 shares and the excess of his application money was carried forward towards the payment of allotment and calls. Give Journal entries to record the above issue of shares.

TS Grewal Class 12 Issue of Share Capital Question 35

Solution

Solution of Q 35 Issue of Share Capital TS Grewal 2023-24 part 1
Solution of Q 35 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 35 Issue of Share Capital TS Grewal 2023-24 part 3
Solution of Q 35 Issue of Share Capital TS Grewal 2023-24 part 4
Solution of Q 35 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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