[CBSE] Q. 48 Solution of Accounting for Share Capital TS Grewal Class 12 (2024-25)

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The solution to Question number 48 of the Accounting for Share Capital chapter of TS Grewal Book 2024-25 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:-

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Anurag Pathak
Anurag Pathak

Anurag Pathak is an academic teacher. He has been teaching Accountancy and Economics for CBSE students for the last 18 years. In his guidance, thousands of students have secured good marks in their board exams and legacy is still going on. You can subscribe his Youtube channel for free lectures

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