[CBSE] Q. 50 Accounting for Share Capital Solution of TS Grewal Class 12 (2026-27)
The solution to Question number 50 of the Accounting for Share Capital chapter of TS Grewal Book 2026-27 Edition CBSE Board
Vikram Ltd. forfeited 5,000 shares of Rahul, who had applied for 6,000 shares for non-payment of allotment money of ₹ 5 per share and first and final call of ₹ 2 per share. Only application money of ₹ 3 was paid by him. Out of these, 3,000 shares were re-issued @ ₹ 12 per share as fully paid.
Pass entries for forfeiture and reissue of shares.
[Ans.: Capital Reserve – ₹ 10,800.]
Solution:-
