Q.34 Solution Accounting for Share Capital TS Grewal Book Class 12 CBSE
Step-by-step solution of Question 34, Chapter 8 Accounting for Share Capital (Issue of Shares), TS Grewal Class 12 Accountancy 2024-25 for the CBSE Board.
Question 34
Avon Ltd. issued for subscription 10,000 shares of ₹ 25 each, payable ₹ 5 per share on application, ₹ 10 per share on allotment (including ₹ 5 per share as premium), ₹ 5 per share as first call on the shares and the balance in two equal amounts at intervals of three months. All the shares were applied and allotted. Due amount was received except the second call and final call on 200 and 400 shares respectively.
Pass the entries in the company’s Journal, Cash Book and the Ledger. Also show the company’s Balance Sheet on completion of the above transactions.
Solution
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