[CBSE] Q. 16 Solution of Accounting for Share Capital TS Grewal Class 12 (2023-24)

Are you looking for the solution to Question number 16 of the Accounting for Share Capital chapter of TS Grewal Book 2023-24 Edition CBSE Board?

Sangam Marbles Ltd. invited applications for 20,000 Equity Shares of ₹ 100 each issued at par payable on application. The issue was oversubscribed by 5,000 shares and allotment was made on pro rata basis. Pass necessary Journal entries.

[Hint: Sahres applied are 25,000 (20,000 + 5,000).]

Solution:-