[CBSE] Q. 13 Solution of Accounting for Share Capital TS Grewal Class 12 (2023-24)

Are you looking for the solution to Question number 13 of the Accounting for Share Capital chapter of TS Grewal Book 2023-24 Edition CBSE Board?

Bharat Ltd. was incorporated with a capital of ₹ 2,00,000 divided into shares of ₹ 10 each, 2,000 shares were offered for subscription and out of these, 1,800 shares were applied for and allotted. ₹ 3 per share (including ₹ 1 premium) was payable on application, ₹ 4 per share (including ₹ 1 premium) on allotment, ₹ 2 per share on first call and ₹ 3 per share on final call. All the money was received. Give necessary Journal entries and show share capital in the Balance Sheet.

[Ans.: Subscribed Share Capital – ₹ 18,000.]

Solution:-