[CBSE] Q. 51 Solution of Accounting for Share Capital TS Grewal Class 12 (2023-24)

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Are you looking for the solution to Question number 51 of the Accounting for Share Capital chapter of TS Grewal Book 2023-24 Edition CBSE Board?

What amount of gain on reissue will be transferred to Capital Reserve under following situations?

(i) 3,000 shares of ₹ 10 each of Rakesh were forfeited by crediting ₹ 5,000 to Forfeited Shares Account.

(ii) Z Ltd. forfeited 20 shares of ₹ 100 each (₹ 60 called-up) issued at par to Shiv on which he paid ₹ 20 per share. Out of these, 15 shares were reissued to Rajesh as ₹ 60 paid-up for ₹ 45 per share.

[Ans.: (i) ₹ 1,200, (ii) ₹ 75.]

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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