[ISC] Q. 52 Solution of Share Capital TS Grewal ISC 2023-24 Edition
Step-by-step solution of Question 52, Chapter 7 Joint Stock Company – Issue of Share Capital, TS Grewal Class 12 Accountancy 2023-24 for the ISC Board.
Question 52
Zee Ltd. with a registered capital of ₹ 5,00,000 in shares of ₹ 10 each, invited applications for 20,000 shares payable as under:
- ₹ 2 per share on application; ₹ 2 per share on allotment;
- ₹ 3 per share on first call; and ₹ 3 per share on final call.
An applicant who had been allotted 250 shares failed to pay the allotment and the first call money due from him. His shares were forfeited. After this the final call was made and the forfeited shares were reissued as fully paid-up @ ₹ 8.50 per share.
Pass Journal entries and show company’s 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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