[CBSE] Q. 44 Accounting for Share Capital Solution of TS Grewal Class 12 (2026-27)
The solution to Question number 44 of the Accounting for Share Capital chapter of TS Grewal Book 2026-27 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:-
