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Solution of Q 18 Accounting for Share Capital TS Grewal 2022-23 [CBSE]

Question 18 of 94Chapter 9Class 12 · CBSE✍ Vijay Adarsh

Step-by-step solution of Question 18, Chapter 9 Company Accounts – Accounting for Share Capital, TS Grewal Class 12 Accountancy 2022-23 for the CBSE Board.

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Question 18

Tiny Toys Ltd. issued ₹10,00,000 shares of ₹100 each at a premium of ₹20 for subscription payable as:

  1. ₹10 per share on application,
  2. ₹40 per share and ₹10 premium on allotment, and
  3. ₹50 per share and ₹10 premium on final payment.

Overpayments on application were to be applied towards amount due on allotment and overpayments on application exceeding amount due on allotment was to be returned. Issue was oversubscribed to the extent of 13,000 shares. Applicants for 12,000 shares were allotted only 1,000 shares and applicants for 2,000 shares were sent letters of regret. All the money due on allotment and final call was duly received. Pass necessary entries in the company’s books to record the above transactions. Also, prepare company’s Balance Sheet on completion of the above transactions.

TS Grewal Class 12 Issue of Shares Question 18

Solution

Solution of Q 18 Issue of Shares TS Grewal 2022-23 part 1
Solution of Q 18 Issue of Shares TS Grewal 2022-23 part 2
Stuck on this chapter?Watch it explained in the Class 12 Accounts video courseEvery chapter, step by step, by Vijay Adarsh (23 years teaching).Watch free demo
Solution of Q 18 Issue of Shares TS Grewal 2022-23 part 3
Solution of Q 18 Issue of Shares TS Grewal 2022-23 part 4
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About this solution

This is Chapter 9 Company Accounts – Accounting for Share Capital of TS Grewal Edition 2022-23.

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 CBSE Guidelines. Just follow our presentation of solutions and score good marks in Accountancy Board Exam.

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