[CBSE] Q. 79 Solution of Accounting for Share Capital TS Grewal Class 12 (2023-24)

Are you looking for the solution to Question number 79 of the Accounting for Share Capital chapter of TS Grewal Book 2023-24 Edition CBSE Board?

Pass necessary Journal entries in the books of the company for the following transactions.

Vishesh Ltd. forfeited 1,000 Equity Shares of ₹ 10 each issued at a premium of ₹ 2 per share for non-payment of allotment money of ₹ 5 per share including premium. The final call of ₹ 2 per share was not yet called on these shares. Of the forfeited shares 800 shares were reissued at ₹ 12 per share as fully paid up. The remaining shares were reissued at ₹ 11 per share fully paid-up.

[Ans.: Capital Reserve – ₹ 5,000.]

Solution:-

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