[NCERT] Q 5 Accounting for Share Capital Solutions Class 12 (2022-23)

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Solutions of Question number 5 Accounting for Share Capital NCERT Accountancy solutions Class 12 CBSE Board 2022-23 Session?

Mohit Glass Ltd. issued 20,000 shares of ₹ 100 each at ₹ 110 per share, payable ₹ 30 on application, ₹ 40 on allotment (including Premium), ₹ 20 on first call and ₹ 20 on final call. The applications were received for 24,000 shares and allotted 20,000 shares and rejected 4,000 shares and amount returned thereon. The money was duly received.

Give Journal entries.

Solution:-

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