[CBSE] Q. 47 Accounting for Share Capital Solution of TS Grewal Class 12 (2026-27)
The solution to Question number 47 of the Accounting for Share Capital chapter of TS Grewal Book 2026-27 Edition CBSE Board
Sandesh Ltd. took over the assets of ₹ 7,00,000 and liabilities of ₹ 2,00,000 from Sanchar Ltd. for a purchase consideration of ₹ 4,59,500. ₹ 8,500 were paid by accepting a draft in favour of Sanchar Ltd. payable after three months and the balance was paid by issue of equity shares of ₹ 10 each at a premium of 10% in favour of Sanchar Ltd.
Pass necessary Journal entries for the above transactions in the books of Sandesh Ltd.
[Ans.: Capital Reserve – ₹ 40,500.]
Solution:-
