[CBSE] Q. 52 Solution of Accounting for Share Capital TS Grewal Class 12 (2023-24)

Are you looking for the solution to Question number 52 of the Accounting for Share Capital chapter of TS Grewal Book 2023-24 Edition CBSE Board?

Z Ltd. issued 10,000 shares of the value of ₹ 10 each, payable ₹ 3 on application, ₹ 3 on allotment and ₹ 4 on the first and final call. All amounts are duly received except the call money on 100 shares. These shares are subsequently forfeited by Directors and are resold as fully paid-up for ₹ 500. Give necessary Journal entries for the transactions.

[Ans.: Capital Reserve – ₹ 100.]

Solution:-