[CBSE] Q. 61 Solution of Accounting for Share Capital TS Grewal Class 12 (2023-24)

Are you looking for the solution to Question number 61 of the Accounting for Share Capital chapter of TS Grewal Book 2023-24 Edition CBSE Board?

Super Star Ltd. makes an issue of 10,000 Equity Shares of ₹ 100 each, payable as:

On Application and Allotment	₹ 50 per share,
On First Call	₹ 25 per share,
On Second and Final Call	₹ 25 per share,

Members holding 400 shares did not pay the second and final call and the shares are duly forfeited, 200 of which are reissued as fully paid-up @ ₹ 50 per share. Pass Journal entries in the books of the company.

[Ans.: Capital Reserve – ₹ 5,000.]

Solution:-

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