[CBSE] Q. 53 Solution of Accounting for Share Capital TS Grewal Class 12 (2023-24)

Are you looking for the solution to Question number 53 of the Accounting for Share Capital chapter of TS Grewal Book 2023-24 Edition CBSE Board?

Alfa Ltd. forfeited 900 Equity Shares of ₹ 100 each for the non-payment of allotment money of ₹ 30 per share and the first call of ₹ 20 per share. The second and final call of ₹ 25 per share has not been made. The forfeited shares were reissued for ₹ 90 per share, ₹ 75 paid-up.

Journalise the above.

[Ans.: Capital Reserve – ₹ 22,500.]

Solution:-