[ISC] Q. 18 Accounting for Share Capital Solution TS Grewal Class 12 (2023-24)

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Solution to Question number 18 of the Accounting for Share Capital chapter of TS Grewal Book 2023-24 Edition ISC Board?

Hollyhock Ltd. is registered with an Authorised Share Capital of ₹ 20,00,000 divided into 2,00,000 Equity Shares of ₹ 10 each. Out of these, 40,000 Equity Shares were issued to a vendor as fully paid towards purchase consideration for a building acquired 1,30,000 shares were offered to the public and of these 1,20,000 shares were applied for and allotted. The Directors called ₹ 6 per share and received the entire amount except a call of ₹ 2 per share on 5,000 shares.

Show the relevant items in the Balance Sheet of Hollyhock Ltd.

Solution:-

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