[CBSE] Q. 44 Solution of Accounting for Share Capital TS Grewal Class 12 (2023-24)

Are you looking for the solution to Question number 44 of the Accounting for Share Capital chapter of TS Grewal Book 2023-24 Edition CBSE Board?

Vikram Ltd. forfeited 5,000 shares of Rahul, who had applied for 6,000 shares for non-payment of allotment money of ₹ 5 per share and first and final call of ₹ 2 per share. Only application money of ₹ 3 was paid by him. Out of these, 3,000 shares were re-issued @ ₹ 12 per share as fully paid.

Pass entries for forfeiture and reissue of shares.

[Ans.: Capital Reserve – ₹ 10,800.]

Solution:-