[CBSE] Q. 23 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 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.

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You are required to pass the necessary Journal entries.

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Solution;-

Note:- As Minimum Subscription 25000 × 90% = 22500 shares is not received. Thus application money is refunded.

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Anurag Pathak
Anurag Pathak

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