[CBSE] Q. 37 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 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

ParticularsDr.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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Anurag Pathak
Anurag Pathak

Anurag Pathak is an academic teacher. He has been teaching Accountancy and Economics for CBSE students for the last 18 years. In his guidance, thousands of students have secured good marks in their board exams and legacy is still going on. You can subscribe his Youtube channel for free lectures

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