[CBSE] Q. 52 Accounting for Share Capital Solution of TS Grewal Class 12 (2026-27)
The solution to Question number 52 of the Accounting for Share Capital chapter of TS Grewal Book 2026-27 Edition CBSE Board
Show the forfeiture and reissue entries under each of the following cases:
(i) Teer Ltd. forfeited 3,000 shares of ₹ 10 each for non-payment of final call of ₹ 2 per share. These shares were reissued for 10 each as fully paid-up.
(ii) Alliance Ltd. forfeited 2,000 shares of ₹ 10 each for non-payment of final call of ₹ 2 per share.
These forfeited shares were reissued for 10 each as 7 paid-up.
[Ans.: (1) Capital Reserve 24,000; (i) Capital Reserve 16,000]
Solution:-
