[ISC] Q. 41 Solution of Share Capital TS Grewal ISC 2023-24 Edition
Step-by-step solution of Question 41, Chapter 7 Joint Stock Company – Issue of Share Capital, TS Grewal Class 12 Accountancy 2023-24 for the ISC Board.
Question 41
Silver & Gold Ltd. issued for subscription 1,35,000 Equity Shares of ₹ 10 each to the public at a premium of 10% on the following terms:
(i) ₹ 3 to be paid on application; (ii) ₹ 4 to be paid on allotment; (iii) ₹ 2 to be paid two months after allotment; and (iv) ₹ 2 to be paid three months after first call.
Public applied for 1,25,000 Equity Shares, which were allotted. All money due was received on due date except from a shareholder holding 2,500 shares who failed to pay the calls money.
Pass entries in the Cash Book and Journal of the company and prepare Balance Sheet.
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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