[ISC] Q. 8 Solution of Accounting for Share Capital TS Grewal Class 12 (2022-23)

Are you looking for the solution to Question number 8 of the Accounting for Share Capital chapter of TS Grewal Book 2022-23 Edition ISC Board?

(a) Satya Ltd. invited applications for 20,000 equity shares of ₹ 10 each at a premium of ₹ 4 per share. The issue price is payable on application. Issue was fully subscribed. Pass necessary Journal entries.

(b) Krishna Ltd. was registered with an authorised capital of ₹ 10,00,000 divided into equity shares. of ₹ 10 each. It issued 40,000 shares to the public at a premium of ₹ 2 each, payable as ₹ 2 on application, ₹ 5 on allotment (including premium), ₹ 3 on first call and ₹ 2 on second and final call.

All the shares were subscribed and amounts were duly received. Pass Journal entries.

(c) New Era Ltd. issued 40,000 shares of ₹ 100 each at a premium of ₹ 20 payable as: ₹ 50 on application, ₹ 40 on allotment and ₹ 30 on first and final call. Issue was fully subscribed and amounts were duly received. Give the necessary Journal entries in the books of the company.

Solution:-

In the Books of Satya Ltd.

Journal

In the Books of Krishna Ltd.

Journal

In the Books of New Era Ltd.

Journal

Issue of Share chapter Solutions of TS Grewal Class 12 Accountancy ISC 2022-23

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