Q.31 Solution Accounting for Share Capital TS Grewal Book Class 12 CBSE
Step-by-step solution of Question 31, Chapter 8 Accounting for Share Capital (Issue of Shares), TS Grewal Class 12 Accountancy 2024-25 for the CBSE Board.
Question 31
Blue Chip Ltd. was registered on 1st January, 2024 with a capital of ₹ 10,00,000 divided into 1,00,000 shares of ₹ 10 each. The company issued 42,000 shares of which 40,000 shares were subscribed by public and ₹ 1 per share was received with application. On 1st February, 2024, these shares were allotted and ₹ 2 per share was duly received on 28th February, 2024 as allotment money. First call of ₹ 3 per share was made on 1st March, 2024 and the call money on all shares with the exception of 100 shares was received. The final call of ₹ 4 per share was made on 1st June, 2024 and the amount due, with the exception of 400 shares, was received by 30th June, 2024.
Pass necessary Journal and Cash Book entries and prepare the Balance Sheet as at 30th June, 2024.
Solution
All questions of Chapter 8
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About this solution
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