[ISC] Q. 23 Accounting for Share Capital Solution TS Grewal Class 12 (2023-24)
Solution to Question number 23 of the Accounting for Share Capital chapter of TS Grewal Book 2023-24 Edition ISC Board?
Himalaya Ltd. was registered with a nominal capital of ₹ 10,00,000 in shares of ₹ 10 each, 90,000 of which were issued payable as ₹ 1 on application, ₹ 2 on allotment, ₹ 3 on first call and the balance on final call. All the shares were applied for and allotted and all the cash was received on the due dates except that one shareholder holding 1,000 shares failed to pay the allotment money and another shareholder holding 2,000 shares paid the first and the final call together with the allotment money. Journalise the above transactions in the book of the company.
Solution:-
Let’s Practice
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