[ISC] Q. 43 Accounting for Share Capital Solution TS Grewal Class 12 (2024-25)

Solution to Question number 43 of the Accounting for Share Capital chapter of TS Grewal Book 2024-25 Edition ISC Board.

Moti 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 duly received. Pass the necessary Journal entries.

Solution:-

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