[CBSE] Q. 104 Solution of Accounting for Share Capital TS Grewal Class 12 (2023-24)

Are you looking for the solution to Question number 104 of the Accounting for Share Capital chapter of TS Grewal Book 2023-24 Edition CBSE Board?

XYZ Ltd. issued a prospectus inviting applications for 2,000 shars of ₹ 10 each at a premium of ₹ 4 per share, payable as:

On Application	₹ 6 (including ₹ 1 premium),
On Allotment	₹ 2 (including ₹ 1 premium),
On First Call	₹ 3 (including ₹ 1 premium),
On Second and Final Call	₹ 3 (including ₹ 1 premium),

Applications were received for 3,000 shares and pro rata allotment was made on the application for 2,400 shares. It was decided to utilise excess application money towards the amount due on allotment.

X, to whom 40 shares were allotted, failed to pay the allotment money and on his subsequent failure to pay the first call, his share were forfeited.

Y, who applied for 72 shares failed to pay the two calls and on his such failure, his shares were forfeited.

Of the shares forfeited, 80 shares were sold to Z credited as fully paid-up for ₹ 9 per share, the whole of Y’s shares being included, Prepare Journal, Cash Book and the Balance Sheet.

[Ans.: Capital Reserve – ₹ 400; Balance Sheet Total – ₹ 28,088.]

Solution:-

Notes to Accounts:-

Following is the list

S.N	Questions
1	Question – 1
2	Question – 2
3	Question – 3
4	Question – 4
5	Question – 5
6	Question – 6
7	Question – 7
8	Question – 8
9	Question – 9
10	Question – 10

S.N	Questions
11	Question – 11
12	Question – 12
13	Question – 13
14	Question – 14
15	Question – 15
16	Question – 16
17	Question – 17
18	Question – 18
19	Question – 19
20	Question – 20

S.N	Questions
21	Question – 21
22	Question – 22
23	Question – 23
24	Question – 24
25	Question – 25
26	Question – 26
27	Question – 27
28	Question – 28
29	Question – 29
30	Question – 30

S.N	Questions
31	Question – 31
32	Question – 32
33	Question – 33
34	Question – 34
35	Question – 35
36	Question – 36
37	Question – 37
38	Question – 38
39	Question – 39
40	Question – 40

S.N	Questions
41	Question – 41
42	Question – 42
43	Question – 43
44	Question – 44
45	Question – 45
46	Question – 46
47	Question – 47
48	Question – 48
49	Question – 49
50	Question – 50

S.N	Questions
51	Question – 51
52	Question – 52
53	Question – 53
54	Question – 54
55	Question – 55
56	Question – 56
57	Question – 57
58	Question – 58
59	Question – 59
60	Question – 60

S.N	Questions
61	Question – 61
62	Question – 62
63	Question – 63
64	Question – 64
65	Question – 65
66	Question – 66
67	Question – 67
68	Question – 68
69	Question – 69
70	Question – 70

S.N	Questions
71	Question – 71
72	Question – 72
73	Question – 73
74	Question – 74
75	Question – 75
76	Question – 76
77	Question – 77
78	Question – 78
79	Question – 79
80	Question – 80

S.N	Questions
81	Question – 81
82	Question – 82
83	Question – 83
84	Question – 84
85	Question – 85
86	Question – 86
87	Question – 87
88	Question – 88
89	Question – 89
90	Question – 90

S.N	Questions
91	Question – 91
92	Question – 92
93	Question – 93
94	Question – 94
95	Question – 95
96	Question – 96
97	Question – 97
98	Question – 98
99	Question – 99
100	Question – 100

S.N	Questions
101	Question – 101
102	Question – 102
103	Question – 103
104	Question – 104