[CBSE] Q. 23 Solution of Accounting for Share Capital TS Grewal Class 12 (2023-24)
Are you looking for the solution to Question number 23 of the Accounting for Share Capital chapter of TS Grewal Book 2023-24 Edition CBSE Board?
A-one Product Ltd. is registered with authorised capital of ₹ 10,00,000 divided into 50,000 Equity Shares of ₹ 20 each. It issued 25,000 Equity Shares for Subscription at premium of ₹ 2 per share, issue price being payable along with application. It received ₹ 4,62,000 towards application money.
You are required to pass the necessary Journal entries.
Solution;-
Note:- As Minimum Subscription 25000 × 90% = 22500 shares is not received. Thus application money is refunded.
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