[CBSE] Q. 37 Solution of Accounting for Share Capital TS Grewal Class 12 (2023-24)

Are you looking for the solution to Question number 37 of the Accounting for Share Capital chapter of TS Grewal Book 2023-24 Edition CBSE Board?

Rajan Ltd Purchased assets from Geeta & Co. for 5,00,000. A sum of ₹ 1,00,000 was paid by means of a bank draft and for the balance due Rajan Ltd. issued Equity Shares of ₹ 10 each at a premium of 25%.

Journalise the above transactions in the books of the company.

[Ans.: 32,000 Equity Shares to be issued.]

Solution:-

Alternatively (2) and (3) entries can also be combined as

Particulars	Dr.	Cr.
Geeta & Co. A/c Dr.	5,00,000
To Bank A/c To Equity Share Capital A/c To Securities Premium A/c		1,00,000 3,20,000 80,000

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