[CBSE] Q. 20 Solution of Accounting for Share Capital TS Grewal Class 12 (2024-25)

The solution to Question number 20 of the Accounting for Share Capital chapter of TS Grewal Book 2024-25 Edition CBSE Board

Pragati Ltd. issued 80,000 Equity Shares of ₹ 10 each against which it received applications for 1,20,000 shares. Application Money was ₹ 4, Allotment Money and First and Final Call was ₹ 3 each.

Pass the Journal entry for allotment of shares in each of the following cases:

Case 1: Excess Applications were rejected.

Case 2: Pro rata allotment is made.

Case 3: Applicatoins for 20,000 Shares were refused allotment and pro rata allotment was made to remaining.

Case 4: Applications for 10,000 Shares were refused allotment, applications for 10,000 shares were allotted the shares applied and pro rata allotment was made to the remaining.

Solution:-

Following is the list

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