[CBSE] Q. 22 Solution of Accounting for Share Capital TS Grewal Class 12 (2023-24)

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Are you looking for the solution to Question number 22 of the Accounting for Share Capital chapter of TS Grewal Book 2023-24 Edition CBSE Board?

Quality Stationers Ltd. registered with authorised capital of ₹ 20,00,000 divided into 1,00,000 equity shares of ₹ 20 each. 50,000 Equity Shares were issued for subscription at par, issue price being payable along with application. It received application money of ₹ 4,40,000.

You are requited to pass the necessary Journal entries.

Solution:-

As Minimum subscription 50000 × 90% = 45000 shares is not received. Thus, application money is refunded.

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Anurag Pathak
Anurag Pathak

Anurag Pathak is an academic teacher. He has been teaching Accountancy and Economics for CBSE students for the last 18 years. In his guidance, thousands of students have secured good marks in their board exams and legacy is still going on. You can subscribe his Youtube channel for free lectures

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