[ISC] Q. 29 Accounting for Share Capital Solution TS Grewal Class 12 (2024-25)
Solution to Question number 29 of the Accounting for Share Capital chapter of TS Grewal Book 2024-25 Edition ISC Board.
Mohan, the holder of 100 shares, paid his second call of ₹ 10 along with the share first call money of ₹ 20 on 1st May, 2023. The second call was made by the company on 1st August, 2022. The interest allowed on Calls-in-Advance as per Articles of Association is 12% p.a. Interest was paid to the shareholders on 1st August, 2023. Pass Journal entries to record the above transactions.
Solution:-
Let’s Practice
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