[CBSE] Q. 21 Solution of Accounting for Share Capital TS Grewal Class 12 (2023-24)

Are you looking for the solution to Question number 21 of the Accounting for Share Capital chapter of TS Grewal Book 2023-24 Edition CBSE Board?

Sony Media Ltd. issued 50,000 shares of ₹ 10 each payable ₹ 3 on application, ₹ 4 on allotment and balance on first and final call. Applications were received for 1,00,000 shares and allotment was made as follows:

(i) Applicants for 60,000 shares were allotted 30,000 shares.

(ii) Applicants for 40,000 shares were allotted 20,000 shares.

Anupam to whom 1,000 shares were allotted from category (i), failed to pay the allotment money.

Pass Journal entries up to allotment.

Solution:-

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