[CBSE] Q. 41 Solution of Accounting for Share Capital TS Grewal Class 12 (2023-24)

Are you looking for the solution to Question number 41 of the Accounting for Share Capital chapter of TS Grewal Book 2023-24 Edition CBSE Board?

Sure Ltd. purchased a running business from M/s. Rai Brothers for a sum of ₹ 15,00,000 payable ₹ 12,00,000 in fully paid shares of ₹ 10 each and the balance through cheque.

The assets and liabilities consisted of the following:

Plant and Machinery	₹ 4,00,000
Building	₹ 4,00,000
Sundry Debtors	₹ 3,00,000
Stock	₹ 4,00,000
Cash	₹ 3,00,000
Sundry Creditors	₹ 2,00,000

You are required to pass necessary Journal entries in the company’s books:

[Ans.: Capital Reserve – ₹ 1,00,000.]

Solution:-

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