[CBSE] Q. 3 Solution of Accounting for Share Capital TS Grewal Class 12 (2023-24)

The solution to Question number 3 of the Accounting for Share Capital chapter of TS Grewal Book 2023-24 Edition CBSE Board.

Global Trade Ltd. has authorised share capital of ₹ 1,00,00,000 divided into 1,00,000 Equity Shares of ₹ 100 each. It has existing issued and paid up capital of ₹ 25,00,000. It further issued to public 25,000 Equity Shares at a premium of 20% for subscription payable as under:

On Application	₹ 30
On Allotment	₹ 60, and
On Call	Balance Amount.

The issue was fully subscribed and allotment was made to all the applicants. The company did not make the call during the year.

Show Share Capital in the Balance Sheet of the company.

Solution:-

Following is the list

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