[ISC] Q. 16 Accounting for Share Capital Solution TS Grewal Class 12 (2023-24)

Solution to Question number 16 of the Accounting for Share Capital chapter of TS Grewal Book 2023-24 Edition ISC Board?

Sunflower Ltd. purchased the running business from Bhaskar for ₹ 15,00,000 payable ₹ 12,00,000 in fully paid shares of ₹ 10 each and balance through cheque.

	₹
Plant and Machinery	6,00,000
Building	4,00,000
Sundry Debtors	1,60,000
Stock	2,00,000
Cash	3,00,000
Sundry Creditors	60,000

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

Solution:-

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