[CBSE] Q. 34 Solution of Accounting for Share Capital TS Grewal Class 12 (2024-25)

The solution to Question number 34 of the Accounting for Share Capital chapter of TS Grewal Book 2024-25 Edition CBSE Board

Avon Ltd. issued for subscription 10,000 shares of ₹ 25 each, payable ₹ 5 per share on application, ₹ 10 per share on allotment (including ₹ 5 per share as premium), ₹ 5 per share as first call on the shares and the balance in two equal amounts at intervals of three months. All the shares were applied for and allotted. Due amount was received except the second call and final call on 200 and 400 shares respectively.

Pass the entries in teh company’s Journal, Cash Book and the Ledger. Also show the company’s Balance Sheet on Completion of the above transactions.

[Ans.: Cash Book Balance = ₹ 2,97,000.]

Solution:-

Avon Ltd.

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