[CBSE] Q. 105 for Share Capital Solution of TS Grewal Class 12 (2026-27)

The solution to Question number 105 of the Accounting for Share Capital chapter of TS Grewal Book 2026-27 Edition CBSE Board

Visa Ltd. offered 10,000 shares of ₹ 100 each payable as follows: on application: ₹ 3, on allotment: ₹ 2, on first call: ₹ 3, on second call: ₹ 2. Public applied for 13,000 shares. Shares wre allotted on pro rata to the applicants of 12,000 shares. All the shareholders have paid the amount up to allotment except Mohan, the allottee of 200 shares. His shares were forfeited. First call was then made. Forfeited shares were reissued @ ₹ 9 per share, ₹ 8 called-up. Second call has not yet been made. You are required to make the Cash Book and Pass the Journal entries.

[Ans.: Capital Reserve – ₹ 720; Cash Book Balance – ₹ 80,920.]

Solution:-