[ISC] Q. 38 Solution of Accounting for Share Capital TS Grewal Class 12 (2022-23)

Solution to Question number 38 of the Accounting for Share Capital chapter of TS Grewal Book 2022-23 Edition ISC Board?

Sagar Ltd. issued a prospectus inviting applications for 30,000 shares of ₹ 10 each at a premium of ₹ 2 per share payable as ₹ 2 on application, ₹ 5 (including premium on allotment, ₹ 3 on first call and balance on second and final call.

Applications were received for 28,000 shares. All money were duely received. Pass the necessary Journal entries.

Solution:-

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

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