[ISC] Q. 37 Solution of Share Capital TS Grewal ISC 2023-24 Edition
Step-by-step solution of Question 37, Chapter 7 Joint Stock Company – Issue of Share Capital, TS Grewal Class 12 Accountancy 2023-24 for the ISC Board.
Question 37
Business Solutions Ltd. issued for subscription 20,000 shares of ₹ 100 each payable ₹ 25 on application and ₹ 50 on allotment for each share and balance on call. Applications were received for 30,000 shares. Letters of regret were issued to applicants for 5,000 shares and their application money was returned to them. Application money for other 5,000 shares was applied towards the payment for allotment money and all the 20,000 shares were issued to the public. The balance of allotment money was also received in due time.
Pass the Journal entries, prepare Cash Book, Ledger Accounts and Balance Sheet of the company.
Solution
All questions of Chapter 7
Orange = this question · Grey = already opened.
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.
Stuck on this question? Ask Vijay Sir
Be the first to ask on this question.