[CBSE] Q. 36 Solution of Accounting for Share Capital TS Grewal Class 12 (2024-25)

The solution to Question number 36 of the Accounting for Share Capital chapter of TS Grewal Book 2024-25 Edition CBSE Board

Random Ltd. took over running business of Mature Ltd. comprising of Assets of ₹ 45,00,000 and Liabilities of ₹ 6,40,000 for a purchase consideration of ₹ 36,00,000. The amount was settled by bank draft of ₹ 1,50,000 and balance by issuing 12% Preference Shares of ₹ 100 each at 15% premium. Pass entries in the books of Random Ltd.

[Ans.: (a) No. of Preference Shares issued = ₹ 34,50,000 ÷ ₹ 115 = 30,000 shares.]

Solution:-

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