Q.109 Solution Accounting for Share Capital TS Grewal Book Class 12 CBSE

Question 109 of 110Chapter 8Class 12 · CBSE✍ Vijay Adarsh

Step-by-step solution of Question 109, 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 109

XYZ Ltd. issued a prospectus inviting applications for 2,000 shares of ₹ 10 each at a premium of ₹ 4 per share, payable as:

On Application — ₹ 6 (including ₹ 1 premium),

On Allotment — ₹ 2 (including ₹ 1 premium),

On First Call — ₹ 3 (including ₹ 1 premium),

On Second and Final Call — ₹ 3 (including ₹ 1 premium).

Applications were received for 3,000 shares and pro rata allotment was made on the applications for 2,400 shares. It was decided to utilise excess application money towards the amount due on allotment.

X, to whom 40 shares were allotted, failed to pay the allotment money and on his subsequent failure to pay the first call, his shares were forfeited.

Y, who applied for 72 shares failed to pay the two calls and on his such failure, his shares were forfeited.

Of the shares forfeited, 80 shares were sold to Z credited as fully paid-up for ₹ 9 per share, the whole of Y’s shares being included. Prepare Journal, Cash Book and the Balance Sheet.

TS Grewal Class 12 Issue of Shares Question 109 part 1

TS Grewal Class 12 Issue of Shares Question 109 part 2

Solution

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Solution of Q 109 Issue of Shares TS Grewal 2024-25 part 3

Solution of Q 109 Issue of Shares TS Grewal 2024-25 part 4

Solution of Q 109 Issue of Shares TS Grewal 2024-25 part 5

Solution of Q 109 Issue of Shares TS Grewal 2024-25 part 6

Solution of Q 109 Issue of Shares TS Grewal 2024-25 part 7

Solution of Q 109 Issue of Shares TS Grewal 2024-25 part 8

Solution of Q 109 Issue of Shares TS Grewal 2024-25 part 9

Solution of Q 109 Issue of Shares TS Grewal 2024-25 part 10

Solution of Q 109 Issue of Shares TS Grewal 2024-25 part 11

Solution of Q 109 Issue of Shares TS Grewal 2024-25 part 12

Solution of Q 109 Issue of Shares TS Grewal 2024-25 part 13

Solution of Q 109 Issue of Shares TS Grewal 2024-25 part 14

Solution of Q 109 Issue of Shares TS Grewal 2024-25 part 15

Solution of Q 109 Issue of Shares TS Grewal 2024-25 part 16

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Looking for the Q.109 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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