Solution of Q 27 Share Capital TS Grewal 2023-24 [CBSE]
Step-by-step solution of Question 27, Chapter 8 Accounting for Share Capital (Issue of Shares), TS Grewal Class 12 Accountancy 2023-24 for the CBSE Board.
Question 27
The authorised capital of Sarang Ltd. is ₹ 1,20,00,000 divided into 12,00,000 shares of ₹ 10 each. Out of these, company issued 8,00,000 shares of ₹ 10 each at a premium of 20%. The amount per share was payable as follows:
On Application ₹ 2
On Allotment ₹ 6 (including premium)
On First Call ₹ 2
On Final Call Balance
Public applied for 7,80,000 shares. All the money was duly received.
Prepare an extract of Balance Sheet of Sarang Ltd. as per Schedule III, Part I of the Companies Act, 2013, disclosing the above information. Also prepare ‘Notes to Accounts’ for the same.
Solution
All questions of Chapter 8
Orange = this question · Grey = already opened.
About this solution
This is Chapter 8 Share Capital of 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 CBSE Guidelines. Just follow our presentation of solutions and score good marks in Accountancy Board Exam.
Stuck on this question? Ask Vijay Sir
Be the first to ask on this question.