[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
Let’s Practice
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| 1 | Question – 1 |
| 2 | Question – 2 |
| 3 | Question – 3 |
| 4 | Question – 4 |
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| 11 | Question – 11 |
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| 21 | Question – 21 |
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| 71 | Question – 71 |
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| 80 | Question – 80 |
