[ISC] Q. 29 Solution of Accounting for Share Capital TS Grewal Class 12 (2022-23)

Solution to Question number 29 of the Accounting for Share Capital chapter of TS Grewal Book 2022-23 Edition ISC Board?

Ajay, the holder of 100 shares, paid his second call of ₹ 10 along with the share first call money of ₹ 20 on 1st May, 2020. The second call was made by the company on 1st August, 2020. 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, 2020.

Pass Journal entries to record the above transactions.

Solution:-

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

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