[CBSE] Q. 87 Solution of Accounting for Share Capital TS Grewal Class 12 (2022-23)

Are you looking for the solution to Question number 87 of the Accounting for Share Capital chapter of TS Grewal Book 2022-23 Edition CBSE Board?

Competent Ltd. Issued a prospectus inviting applications for 50,000 Equity Shares of ₹ 10 each, payable ₹ 5 as per application (including ₹ 2 as premium), ₹ 4 as per allotment and the balance towards the first and final call.

Applications were received for 65,000 shares. Application money received on 5,000 shares was refunded with a letter of regret and allotments were made on pro-rata basis to the applicants of 60,00 shares. Money overpaid on applications including premium was adjusted on account of sums due on allotment.

Solution:-

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

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