[CBSE] Q. 19 Solution of Accounting for Share Capital TS Grewal Class 12 (2022-23)

Are you looking for the solution to Question number 19 of the Accounting for Share Capital chapter of TS Grewal Book 2022-23 Edition CBSE Board?

Sugandh Ltd. issued 60,000 shares of ₹ 10 each at a premium of ₹ 2 per share payable as ₹ 3 on application, ₹ 5 (including premium) on allotment and the balance on first and final call. Applicants were received for 92,000 shares. The Directors resolved to allot as:

(i) Applicants of 40,000 shares	30,000 shares,
(ii) Applicants of 50,000 shares	30,000 shares,
(iii) Applicants of 2,000 shares	Nil

Mohan, who had applied for 800 shares in Category (i) and Sohan, who was allotted 600 shares in Category (ii) failed to pay the allotment money. Calculate amount received on allotment.

[Ans.: Amount received on allotment – ₹ 2,05,800.]

Solution:-

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

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