[ISC] Q. 9 Solution of Accounting for Share Capital TS Grewal Class 12 (2022-23)

Are you looking for the solution to Question number 9 of the Accounting for Share Capital chapter of TS Grewal Book 2022-23 Edition ISC Board?

Soft Drilling Ltd. has authorised capital of ₹ 10,00,000 divided into shares of ₹ 10 each. It offered 40,000 shares on the following terms:

₹ 2 per share on application, ₹ 5 per share (including ₹ 2 premium) on allotment, ₹ 3 per share on the first call and ₹ 2 per share on the final call. Applicants were received for 60,000 shares. Applicants for 20,000 shares were sent letters of regret and the application money was refunded. All the amounts due on shares were duly recieved. Give necessary Journal entries and prepare the Balance Sheet.

Solution:-

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

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