[CBSE] Q. 39 Solution of Accounting for Share Capital TS Grewal Class 12 (2022-23)

Are you looking for the solution to Question number 39 of the Accounting for Share Capital chapter of TS Grewal Book 2022-23 Edition CBSE Board?

Alpha Ltd. issued 20,000 Equity Shares of ₹ 10 each at par payable: On application ₹ 2 per share; on allotment ₹ 3 per share; on first call ₹ 3 per share; on second and final call ₹ 2 per share.

Ganesh was allotted 100 share. Pass necessary Journal entry relating to the forfeiture of shares in each of the following alternative cases:

Case 1	If Ganesh failed to pay the allotment money and his shares were immediately forfeited.
Case 2	If Ganesh failed to pay allotment money and on his sebsequent failure to pay the first call, his shares were forfeited.
Case 3	If Ganesh failed to pay the first call and on his subsequent failure to pay the second and final call, his shares were forfeited.

[Ans.: Case 1. Dr. Share Capital A/c – ₹ 500; Cr. Forfeited Shares A/c – ₹ 200 and Shares Allotment A/c – ₹ 300. Case 2. Dr. Share Capital A/c – ₹ 800; Cr. Forfeited Shares A/c – ₹ 200, Shares Allotment A/c – ₹ 300 and Shares First Call A/c – ₹ 300.

Solution:-

Issue of Share chapter Solutions of TS Grewal Class 12 Accountancy CBSE 2022-23

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1	Question – 1
2	Question – 2
3	Question – 3
4	Question – 4
5	Question – 5
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