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Q.30 Solution Accounting for Share Capital TS Grewal Book Class 12 CBSE

Question 30 of 110Chapter 8Class 12 · CBSE✍ Vijay Adarsh

Step-by-step solution of Question 30, Chapter 8 Accounting for Share Capital (Issue of Shares), TS Grewal Class 12 Accountancy 2024-25 for the CBSE Board.

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Question 30

Pure Products Ltd. is registered with authorised capital of ₹ 10,00,000 divided into 1,00,000 equity shares of ₹ 10 each. It issued 70,000 Equity Shares for subscription at premium of ₹ 2 per share, payable ₹ 3 on application, ₹ 5 on allotment and balance on first and final call. It received application money amounting to ₹ 1,89,000.

You are required to:

  1. (i) Determine whether the company should allot shares; and
  2. (ii) If yes, pass the necessary Journal entries assuming that the company has received due amount on allotment and call.
TS Grewal Class 12 Issue of Shares Question 30

Solution

Solution of Q 30 Issue of Shares TS Grewal 2024-25 part 1
Solution of Q 30 Issue of Shares TS Grewal 2024-25 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 30 Issue of Shares TS Grewal 2024-25 part 3
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All questions of Chapter 8

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About this solution

Looking for the Q.30 Solution Accounting for Share Capital TS Grewal Class 12 Accountancy book for the 2024-25 CBSE syllabus? You’ve come to the right place!

Written by Vijay Adarsh, teaching commerce since 2003 to Class 11, Class 12, B.Com, CA, CS and CMA students.

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