[CBSE] Q. 47 Solution of Accounting for Share Capital TS Grewal Class 12 (2023-24)

Are you looking for the solution to Question number 47 of the Accounting for Share Capital chapter of TS Grewal Book 2023-24 Edition CBSE Board?

Ratan Ltd forfeited 3,000 shares of ₹ 10 each (issued at ₹ 2 premium) for non-payament of first call of ₹ 2 per share. Final call of ₹ 3 per share was not yet made. Out of thse, 2,000 shares were re-issued at ₹ 10 per share as fully paid. Pass entries for forfeiture and reissue of shares.

[Ans.: Capital Reserve – ₹ 10,000.]

Solution:-