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

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Solution to Question number 12 of the Accounting for Share Capital chapter of TS Grewal Book 2023-24 Edition ISC Board?

Rajat Ltd. purchased the business of Modern Stores for ₹ 10,00,000 payable in fully paid Equity Shares of ₹ 100 each. Pass Journal entries in the books of Rajat Ltd., if such issue is (i) at par; and (ii) at a premium of 20%.

Solution:-

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