[ISC] Q. 54 Solution of Accounting for Share Capital TS Grewal Class 12 (2022-23)

Share your love

Solution to Question number 54 of the Accounting for Share Capital chapter of TS Grewal Book 2022-23 Edition ISC Board?

Swaraj & Co. was registered with an authorised capital of ₹ 5,00,000 divided into 50,000 shares of ₹ 10 each. The company issued 30,000 of these shares to the public, which were payable as ₹ 2 per share on application, ₹ 4 per share on allotment and the balance three months later.

Applications for 46,000 shares were received on which the Directors allotted as follows:

Applications for 20,000 sharesFull
Applications for 25,000 shares40%
Applications for 1,000 sharesNil

₹ 86,000 was realised on account of the allotment money (excluding the amount carried from the application money) and ₹ 1,00,000 on account of call. The Directors decided to forfeit those shares on which the allotment money was overdue.

Pass the Journal entries in the company’s books.

Solution:-

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

Let’s Practice

S.NSolutions
1Question – 1
2Question – 2
3Question – 3
4Question – 4
5Question – 5
6Question – 6
7Question – 7
8Question – 8
9Question – 9
10Question – 10
S.NSolutions
11Question – 11
12Question – 12
13Question – 13
14Question – 14
15Question – 15
16Question – 16
17Question – 17
18Question – 18
19Question – 19
20Question – 20
S.NSolutions
21Question – 21
22Question – 22
23Question – 23
24Question – 24
25Question – 25
26Question – 26
27Question – 27
28Question – 28
29Question – 29
30Question – 30
S.NSolutions
31Question – 31
32Question – 32
33Question – 33
34Question – 34
35Question – 35
36Question – 36
37Question – 37
38Question – 38
39Question – 39
40Question – 40
S.NSolutions
41Question – 41
42Question – 42
43Question – 43
44Question – 44
45Question – 45
46Question – 46
47Question – 47
48Question – 48
49Question – 49
50Question – 50
S.NSolutions
51Question – 51
52Question – 52
53Question – 53
54Question – 54
55Question – 55
56Question – 56
57Question – 57
58Question – 58
59Question – 59
60Question – 60
S.NSolutions
61Question – 61
62Question – 62
63Question – 63
64Question – 64
65Question – 65
66Question – 66
67Question – 67
68Question – 68
69Question – 69
70Question – 70
S.NSolutions
71Question – 71
72Question – 72
73Question – 73
74Question – 74
75Question – 75
76Question – 76
77Question – 77
78Question – 78
Share your love
Anurag Pathak
Anurag Pathak

Anurag Pathak is an academic teacher. He has been teaching Accountancy and Economics for CBSE students for the last 18 years. In his guidance, thousands of students have secured good marks in their board exams and legacy is still going on. You can subscribe his Youtube channel for free lectures

Articles: 6552

Leave a Reply

Your email address will not be published. Required fields are marked *

x