[CBSE] Q. 58 Accounting for Share Capital Solution of TS Grewal Class 12 (2026-27)
The solution to Question number 58 of the Accounting for Share Capital chapter of TS Grewal Book 2026-27 Edition CBSE Board
Macil Ltd. forfeited 3,000 shares of 100 each issued at 20% premium for the non-payment ofallotment money of30 per share and first call of 40 per share (including premium10). The second and final call of 30 per share (including premium 10) was not yet called. Out of these, 2,000 shares were reissued at ₹ 80 per share paid-up for * 90 per share.
Pass entries for forfeiture and reissue of shares. (CBSE 2025)
[Ans.: Capital Reserve-4040,000.]
Solution:-
