[ISC] Q. 19 Solution of Share Capital TS Grewal ISC 2023-24 Edition
Step-by-step solution of Question 19, Chapter 7 Joint Stock Company – Issue of Share Capital, TS Grewal Class 12 Accountancy 2023-24 for the ISC Board.
Question 19
Fresh Flowers Ltd. was incorporated with an authorised capital of 1,00,000 Equity Shares of ₹ 10 each. The promoters rendered service in setting up the company. Their services were valued at ₹ 1,10,000 for which they were issued 10,000 shares at a premium of ₹ 1 per share. The company also purchased Land and Building from Divyansh Ltd. for ₹ 4,00,000 and issued fully paid-up shares of the company. The balance shares were issued to the public which were fully subscribed and paid for.
You are required to pass Journal entries and show the ‘Share Capital’ in the Balance Sheet of the Company as at 31st March, 2023 and also show ‘Note to Accounts’ as per Schedule III, Part I of the Companies Act, 2013.
Solution
All questions of Chapter 7
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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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