Q.32 Solution Accounting for Share Capital TS Grewal Book Class 12 CBSE
Step-by-step solution of Question 32, Chapter 8 Accounting for Share Capital (Issue of Shares), TS Grewal Class 12 Accountancy 2024-25 for the CBSE Board.
Question 32
The authorised capital of Sarang Ltd. is ₹ 1,20,00,000 divided into 12,00,000 shares of ₹ 10 each. Out of these, company issued 8,00,000 shares of ₹ 10 each at a premium of 20%. The amount per share was payable as follows:
On Application ₹ 2
On Allotment ₹ 6 (including premium)
On First Call ₹ 2
On Final Call Balance
Public applied for 7,80,000 shares. All the money was duly received.
Prepare an extract of Balance Sheet of Sarang Ltd. as per Schedule III, Part I of the Companies Act, 2013, disclosing the above information. Also prepare ‘Notes to Accounts’ for the same.
Solution
All questions of Chapter 8
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About this solution
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