[CBSE] Q. 22 Accounting for Share Capital Solution of TS Grewal Class 12 (2026-27)

The solution to Question number 22 of the Accounting for Share Capital chapter of TS Grewal Book 2026-27 Edition CBSE Board

Seiko Watches Ltd. invited applications for 50,000 shares of ₹ 10 each payable ₹ 3 on application, ₹ 4 on allotment and balance on first and final call. Applications were received for 60,000 shares. Application were accepted for 50,000 shares, and the remaining applications were rejected. All call were made and received except First and Final call on 500 shares.

Pass the Journal entries in the book of Seiko Watches Ltd.

Solution:-

Journal of Citizen Watches Ltd