[ISC] Q. 26 Solution of Accounting for Share Capital TS Grewal Class 12 (2022-23)

Solution to Question number 26 of the Accounting for Share Capital chapter of TS Grewal Book 2022-23 Edition ISC Board?

Hindustan Ltd. issued 10,000 Equity Shares of ₹ 10 each, payable ₹ 2.50 on application, ₹ 3,50 on allotment (including ₹ 1 for premium) and the balance on first and final call. Applications were received for 12,000 shares, 2,000 of which were returned. The shares were fully called-up. All money’s except the final call money on 2,000 shares, were received.

You are required to show (i) Bank Account; (ii) Equity Shares Application Account; (iii) Equity Shares Allotment Account; (iv) Equity Shares First and Final Call Account; (v) Securities Premium Reserve Account; (vi) Equity Share Capital Account; and (vii) Calls-in-Arrears Account.

Solution:-

Issue of Share chapter Solutions of TS Grewal Class 12 Accountancy ISC 2022-23

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