[ISC] Q. 30 Accounting for Share Capital Solution TS Grewal Class 12 (2023-24)
Solution to Question number 30 of the Accounting for Share Capital chapter of TS Grewal Book 2023-24 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, 2022. 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, 2022. Pass Journal entries to record the above transactions.
Solution:-
Let’s Practice
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