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

Share your love

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.


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

Share your love
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 and can download the Android & ios app for free lectures.

Articles: 4635


  1. since the subscribed shares are less than 90% so according to the companies act 2013 the last journal entry in Q22 should be
    share application 440,000
    to bank 440,000

Leave a Reply

Your email address will not be published. Required fields are marked *


Ad Blocker Detected!

Our Website is made possible by displaying online advertisements to our visitors. Please consider supporting us and remove the AD - Blocker to read this article.


error: Content is protected !!